Asda announces new CFO

Asda has announced that Rob McWilliam is to return to the supermarket as chief financial officer, replacing Alex Russo who is leaving the business to take on the role of finance chief at homewares and household goods retailer Wilko.

McWilliam left Asda in 2012 after 15 years to lead finance and consumables for Amazon UK. In January, it was announced that he would be working with Asda again on a consultancy basis, supporting on the development of the retailer’s strategy.

Russo joined Asda in 2014 after 15 years gaining a range of experience in a variety of roles spanning the UK, Europe and Asia with Tesco, Kingfisher and Boots.

Speaking about his new appointment, Russo said: “I’ve been a fan of Wilko and admired its business model over the years and I’m personally excited to not only be joining a great team, but also help the business achieve its vision for 2030 and 100 years, which is to successfully meet the needs of Wilko families at home.”

In a note issued to colleagues today, Walmart International EVP and CFO Richard Mayfield, and Asda CEO Roger Burnley, said: “During his four and a half years in role at Asda, Alex has played a key leadership role in steering the business in a challenging market and continued to develop the role and influence of the finance team.

“He has also helped to make the difficult choices to support the improving performance we have seen over the last two years. Alex has been discussing his desire to seek a new challenge for more than a year and we’re delighted that he has found the right business opportunity that he has been looking for.

“Alex will leave Asda at the end of July, with Rob McWilliam, Asda’s former finance director returning to the business and taking on the role of CFO.”

It was also announced that John Fallon has been promoted to deputy CFO and will take on a broader leadership role within the business.