ASDA appoints Andy Clarke as chief executive

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Mr Clarke became front-runner for the job last week after his main rival for the role – Darren Blackhurst – quit the business. Mr Clarke joined Asda in 1992 but left in 2001 for roles at Matalan, the cheap clothing retailer, and Iceland, the frozen food chain. He returned to Asda in 2005.
 
With the appointment of Mr Clarke, Mr Bond will step up to his new role immediately and will "help ensure a smooth leadership transition", the supermarket said. Mr Bond said: "I'm delighted to appoint Andy Clarke to be my successor. He was clearly the right choice from the internal and external candidates we considered."
 
Doug McMillon, president and chief executive of Wal-Mart International, Asda's owner, said: "We have a robust succession planning and talent development process and Andy Clarke has long been identified as a leader. With his long career at Asda, working first as a store manager, followed by key roles in trading, as retail director and most recently as chief operating officer. He is the ideal person for the job."

Asda said that Mr Clark's remit will be to "become an even better food retailer, a broader non-food retailer and a leader in e-commerce". He takes on the role at a crucial time. Asda has underperformed over recent quarters as Tesco, the market leader, has regained its strength.