Walmart is set to name Sean Clarke, the retailer's boss of its Chinese operations, as Asda's new CEO.
The Big Four supermarket chain's parent company could make an announcement as early as this week, Sky News reported.
The news comes after current boss Andy Clarke confirmed in an interview with Retail week last week that he's going to step down and said Asda's incoming chief operating officer Roger Burnley will be "a great leader" to run Asda.
Sean Clarke, who's not related to Asda's current boss, worked at Asda as commercial finance director before taking up roles in Canada, Germany and Japan. He then moved to China as Walmart's chief operating officer and was later promoted to the role of president and CEO.
Asda posted a 5.7 per cent fall in like-for-like sales for the 13 weeks to 30 March.
Meanwhile, Walmart posted better-than-expected figures, with revenues reaching $115.9bn (£79.8bn). On a constant currency basis, total revenue was up four per cent to $119.4bn.
Asda declined to comment.