SUPERMARKET Asda said yesterday its chairman Andy Bond stood down on 1 January after less than a year in his part-time role.
Bond, who left the chief executive job in April 2010, will also leave parent company Walmart once its 16.5bn rand (£1.5bn) purchase of a majority stake in South African supermarket Massmart goes through. The firm said this was likely to take place by the end of March.
Walmart president Doug McMillon said in an internal email to staff that Bond “has been and will continue to be instrumental in our efforts to acquire a majority interest in Massmart”.
Asda chief executive Andy Clarke said Bond had made the handover process “smooth and seamless”.
Bond worked for Asda for 16 years, five of those as chief executive. He said yesterday he is leaving to pursue new challenges.