LONDON — Andy Bond has quit his position as chairman of Asda, the British arm of Wal-Mart, after less than 12 months in the role.
This story first appeared in the January 6, 2011 issue of WWD. Subscribe Today.
Asda said Bond would continue working for Wal-Mart until March, helping to finalize the purchase of South Africa’s Massmart grocer and its integration into the overall business.
In April, Bond stepped down as chief executive officer and president of Asda, and took on the part-time role of chairman.
In a memo to colleagues in the U.S. and the U.K., Doug McMillon, president and ceo of Wal-Mart International, noted the “tremendous growth” at Asda during Bond’s five-year tenure as ceo, and called him “a brilliant merchant, a strong leader and an effective manager.”
He added that Bond “has been and will continue to be instrumental in our efforts to acquire a majority stake in Massmart.”
Bond was named president and ceo of Asda in 2005, and prior to that had served as the retailer’s chief operating officer, having joined Asda in 1994.
During his 16 years at the company, Bond served as managing director for the George clothing label, and under his watch, Asda grew to be the U.K.’s leading fashion retailer by volume.
In August, Bond took a stake in the British online sports and cycling retailer Wiggle, and became a non-executive director on the company’s board.