Senior Asda staff set to quit following Walmart shareholder payout

Asda chief executive Roger Burnley makes “personal” decision to leave

Senior staff are getting ready to quit Asda after they received payouts from a share scheme run by the supermarket’s US owner Walmart.

According to both industry sources and head-hunters, that say they have been approached by a number of Asda executives, inquiries have been above average for the sector.

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Walmart recently completed the £6.8m sale of Asda to the Issa brothers and TDR Capital, the private equity firm.

A source in the industry told the Times that some of thee executives at Asda made the decision to leave because they would no longer be able to be part of the Walmart scheme. The Asda execs also referenced other issues including the failed tie-up with Sainsbury’s, the pandemic and the sale of the company.

The Times also reported that Asda has restructured its staff bonus to minimise the effect of the loss of the Walmart share scheme.

Staff can receive between 100% and 200% of their salary in cash bonuses, depending on their level of seniority.

Just this month Roger Burnley, chief executive of Asda, said that he had made the “personal” decision to leave amid rumours that the new owners had been looking for his replacement since Christmas. Burnley added that he could not see himself committing to the company for the next five years.

However, Burnley reaffirmed that his relationship with the supermarket’s owners was “magnanimous”, and he would bee continuing for thee next year to assist with succession planning.

Trevor Strain, Morrisons’ chief operating officer, Steve Murrells, the boss of Co-op, Jason Tarry, of Tesco, Stuart Machin, at M&S, Ronny Gottschlich, a former boss of Lidl, and Anthony Hemmerdinger, Asda’s chief operating officer, have been named by industry sources as potential candidates.

At the end of last year Asda was sold by Walmart to two billionaire Blackburn-based brothers in a £6.8bn deal. Mohsin and Zuber Issa are petrol station tycoons and backed by TDR Capital to buy the majority stake in the supermarket.

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