Asda CFO Alex Russo to Leave End July; Rob McWilliam Returns

   By Ian Walker 
 

Asda said Tuesday that Chief Financial Officer Alex Russo will leave the business in July and be replaced by Rob McWilliam who is returning to the role after a six-year absence.

Asda, the U.K.'s number three grocer by market share, which is in the process of merging with J Sainsbury PLC (SBRY.LN), said Mr. McWilliam will return to the business to support the work needed to successfully complete its combination with Sainsbury's. Mr. McWilliam returns from Amazon U.K. where he led Finance and Consumables.

Mr. Russo is leaving to take on a new role, and has been looking for a new challenge for more than a year, Asda said.

Asda, the U.K. arm of Walmart Inc. (WMT), also said that John Fallon has been promoted to deputy chief financial officer, and will take on a broader leadership role within the business.

Walmart announced in April that it would sell Asda to Sainsbury in a deal that valued Asda at about $10.1 billion at the time. The transaction is expected to complete in the second half of 2019, subject to regulatory and other clearances.

Write to Ian Walker at [e-mail]; @IanWalk40289749

(END) Dow Jones Newswires

July 03, 2018 08:26 ET (12:26 GMT)

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