In the week McKenna presented Asda’s third-quarter results, Jennifer Creevy says the sharp but likeable woman who runs Asda’s finances could one day be in the frame for the top job.

Judith McKenna

Asda chief financial officer Judith McKenna is rare in that she is one of the few women in a top retail position, and unique in being in charge of the finances of one of the biggest retailers in the UK.

But while she undoubtedly adds a touch of glamour to the Asda executive board, it is not the fact that she is a woman that should be front of mind.

McKenna presides over the pennies for the largest international subsidiary of the world’s largest retailer, Walmart. And while the US goliath - with sales of $401bn (£239.42bn) - kept the reins tight in the early days after the acquisition, over the past couple of years McKenna has been allowed to speak more freely about Asda’s figures. She has clearly earned the trust of the US parent.

“Judith is very clever, straight and well thought of at Walmart,” says a consultant who has previously worked with her at Asda.

McKenna was thrown in at the deep end when Walmart bought Asda in 1999. Having joined the business from the FMCG sector in 1996 she managed several departments before being appointed group financial controller when Asda was still an independent company.

Being scooped up by Walmart meant McKenna was responsible for the integration of the company’s financial systems to the Walmart platform.

As with everything else, McKenna will have approached the task with a calm, focused temperament. She has said herself in the past that she is the “practical and risk-averse” member of the board, but this would be to understate her abilities. She is known by many to be sharp, savvy and not afraid of tough decisions.

Originally from Middlesbrough, McKenna is - like many of Asda’s present and past directors - down to earth and likeable. Also like many of her colleagues, she has the Asda patter down to a tee - always bringing the conversation back to the customer.

McKenna is as happy talking figures as she is about fashion, stores or new product ranges. After experience in varied Asda departments, such as property, construction, store development and format design, she comes across as having a well-rounded understanding of the business.

As Retail Week went to press, she was due to deliver Asda’s third-quarter results. And the fact she presents to the press out of the shadow of chief executive Andy Bond shows she knows the business like the back of her hand. It has also led to some speculation that she may be in line to step into Bond’s shoes when he moves on, whether to Marks & Spencer or elsewhere.

“Judith is incredibly charming, approachable and friendly,” says the consultant. “She is very easy to deal with - just like Andy - and is definitely seen as having the potential to take over from him.”

She is also on the board of Corinth Services, a Walmart group company, to which it emerged this week Walmart has sold Asda for £6.9bn as part of a “group reconstruction”.

McKenna has been at Asda for more than a decade and even met her husband - Phil Dutton, now finance director of Punch Taverns - at the grocer. When Dutton left Asda he became finance director at Matalan, raising eyebrows of potential pillow talk when Asda was touted as a possible bidder for the value fashion chain. McKenna has previously said, though, that the pair do not talk shop - they are more likely to talk about “what’s for tea”, she joked.

With her down-to-earth charm, McKenna fits well into the ethos of Asda. And since so many people see her fitting equally well into Bond’s shoes - without dwelling too much on her gender - she may become the first female chief executive of one of the UK’s big four grocers.

Age: 43
Family: married, with two children

Career history

  • 2001 became chief financial officer of Asda
  • 1996 joined Asda and went on to hold positions in the property, construction, store development and format design departments before becoming group financial controller, then commercial finance director
  • 1993 held financial roles at Allied Domecq
  • 1992 had financial roles at Carlsberg Tetley
  • Qualified as a chartered accountant with KPMG