The chief finance officer of Asda is set to leave the company for a new role at Wilko, a homeware chain, at the end of the month.
Alex Russo has been serving as the chief finance office at the supermarket for around five years. He is set to be replaced by Rob McWilliam, a former finance chief of Amazon UK.
In a separate statement, Wilko confirmed that Russo has been appointed as the new CFO of the company to help lead the strategic growth plan of the company.
A non-executive director and a granddaughter of the founder of Wilkinson, Lisa Wilkinson, stated: “Alex’s breadth of business and finance experience complements and strengthens our existing leadership team nicely and means we can continue into the next chapter of our transformation programme with even greater confidence.”
On the other hand, Asda will take on Rob McWilliam. McWilliam has already been working closely with the retailer on a consultancy basis starting January. He previously spent around 15 years at Asda. However, he left in 2012 to serve as the Vice President for finance at the UK arm of Amazon.
Roger Burnley, the chief executive of Asda, stated: “We’ve been looking for a CFO who combines a deep knowledge of UK grocery retail, knowledge of Asda and Walmart relationships, and the skills to support the work we have to do to successfully complete our combination with Sainsbury’s.”
At the end of April, Sainsbury’s announced a proposed merger with Asda. It promised that the two firms would continue to operate as separate brands, even though Mike Coupe, the boss of Sainsbury’s, will serve as the head of the combined group. The Competition and Markets Authority of hte United Kingdom is currently investigating the said deal.
John Fallon, the Commercial finance director, has also been promoted to deputy CFO.