Asda has revealed that their chairman Andy Bond officially left the company on New Year’s Day. Bond was the former chief executive of the country’s second largest grocer and has worked for them for 16 years.
He had moved away from the role of chief executive in April last year and no longer took part in the running of the supermarket. Wal-Mart, the American owners of Asda, created the position of chairman for Andy Bond amid rumours that he was removed from the top job due to a dip in sales.
Both Mr Bond and Wal-Mart have strongly denied the allegations claiming he had become chairman whilst he assisted the global retail giant’s attempts to buy South African business Massmart.
In April Bond also insisted that the decision to step back from Asda was his alone and that he believed that taking the job as chairman was the ideal solution for everyone.
Less than a year on and, although he will remain a part of the Wal-Mart organisation, Asda have confirmed that from January 2011 Bond would now be leaving this role.
Staff received an internal memo explaining the situation which stated that his part in the South Africa takeover would be fulfilled by the end of March this year, at which point Mr Bond will part ways with Wal-Mart.
The memo also contained a heartfelt farewell from the long serving Bond where he expressed his love of the store and its employees and commended its commitment to saving people money and giving great service.