Number two gets number one job as DeNunzio prepares to depart

Asda chief operating officer Andy Bond is taking over the top spot when chief executive Tony DeNunzio leaves the firm in the next few weeks.

DeNunzio has been chief executive for 12 years and is leaving to become chairman of Dutch retailer KBB Vendex.

Bond has spent the past four years running Asda’s George clothing range. He joined the retailer in 1994 and has been widely tipped for the top job. He was appointed chief operating officer in September last year.

Analysts welcomed the appointment because an insider would give the supermarket some independence from its US parent Wal-Mart.