Asda's DeNunzio will report to Wal-Mart chief

Asda's president and CEO Tony DeNunzio is to report directly to Bentonville from next month, as Wal-Mart Europe boss Dave Ferguson retires.

DeNunzio will now answer to Wal-Mart International president and chief executive John Menzer. An Asda spokeswoman said: 'The other Wal-Mart CEOs report straight to Menzer so it is common practice. When Wal-Mart became our parent company they wanted someone nearer (to the European businesses). But it's easier now just to report straight to Bentonville.'