Asda CFO Alex Russo to Leave End July; Rob McWilliam Returns
July 03 2018 - 8:41AM
Dow Jones News
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 ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
July 03, 2018 08:26 ET (12:26 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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