Asda chief operating officer David Cheesewright is to return to Canada to be president and chief executive of parent Wal-Mart’s Canadian business.
The loss of Asda’s number two will be a blow, because the UK’s second largest supermarket chain has improved its performance substantially since his return in 2005 from his stint as chief operating officer at Wal-Mart Canada – a position which he took up in 2004.
Blue Oar Securities analyst Greg Lawless said: “This could be seen as a blow to Asda, because he is the retailer on the board. The chief executive of Asda (Andy Bond) is the former managing director of the George at Asda clothing business and is more of a general merchandise guy than a foodie, unlike David.
“David has driven the higher operating standards that we have witnessed on recent store visits. He has also driven the change in promotional stance to twofers, i.e ‘2 for£2’ etc, together with the increase in premium and organic food lines,” said Lawless.
Cheesewright will fill the boots of Mario Pilozzi. After seven years at the helm of Wal-Mart Canada and 45 years with the company, president and chief executive Mario Pilozzi will retire with effect from January 31.
An Asda spokesman said: "For the time being, we are not looking for a replacement for Dave. It is a good opportunity for people on the executive [board] to step up."
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