BENTONVILLE, Ark. — Wal-Mart Stores on Monday said Andy Bond, the president and chief executive officer of its Asda chain in the U.K., will leave those positions and become chairman of the chain's executive committee. He will continue to oversee day-to-day management until a successor is named, the company said.
Bond had been president and CEO of the Asda banner for the past five years and has been with Asda for 16 years. His new role will be a part-time position, the company said.
“I’m very proud to have led Asda for the past five years and helped it find a new confidence to serve its customers better," he said in a prepared statement.
Recent reports indicated Asda had grown its U.K. market share to about 17.5%, second only to Tesco at 30%.
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