UK supermarket Asda confirms CEO Burnley to leave next year By Reuters

LONDON (Reuters) – British supermarket group Asda said on Thursday that chief executive Roger Burnley will leave the business next year, confirming a Sky News report.

Last October U.S. giant Walmart (NYSE:WMT) sold a majority holding in Asda to the billionaire Issa brothers and private equity group TDR Capital in a deal giving it an enterprise value of 6.8 billion pounds ($9.5 billion).

Asda said Burnley will exit when the business has transitioned fully to the new ownership and once his long-term successor is in place.