Economy

United Kingdom supermarket Asda names Roger Burnley as CEO from Jan 2018

United Kingdom supermarket Asda names Roger Burnley as CEO from Jan 2018”

Mr. Burnley will take over from January 1, 2018.

Asda's American owners confirmed that chief executive Sean Clarke will hand over the baton to Roger Burnley on New Year's Eve.

Mr. Burnley rejoined the company as chief operating officer and deputy chief executive in October 2016, following Mr. Clarke's appointment as president and chief executive in July 2016, the grocer said.

Asda said it was always its plan for Mr Burnley to take over as boss of Asda.

"He and Sean have worked as a great team and I'm really confident in Roger's ability to continue building on our return to momentum".

Full year results for 2016 filed at Companies House revealed it was the weakest of the Big 4 in the UK's supermarket wars, with a sales drop 3.2 per cent to £21.7 billion and pre-tax profits slumping by nearly 19 per cent to £791.7 million.

Asda said Mr Clarke, who used to work for parent company Walmart, would "remain engaged" with the United States giant.

"Sean's focus on serving customers and simplifying the business has established a firm foundation on which we can build".

He returned to Asda a year ago following stints at Matalan and Sainsbury's.

Clarke added: "Asda is moving in the right direction but there is still much more for us to do".

Walmart said Clarke would "work closely" with Burnley in the run up to the handover as it tried to deliver its "best ever Christmas".

Reports also surfaced this summer that thousands of Asda workers across 18 under-performing stores were facing redundancy or changes to their working hours.

Some, including Asda, are cutting costs.

In its second quarter of the current year, the supermarket posted a return a growth with a 1.8 per cent rise in like-for-like sales.

Under his leadership Asda decided against launching a major onslaught against the discounters on price, instead concentrating on steady improvements in the basics of its core offer.



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