Asda chief executive Tony DeNunzio has resigned his post at the supermarket chain, after 12 years with the company. He will leave to "pursue other business interests" in the next few weeks, said Asda.
DeNunzio was with Asda during the supermarket chain's years of market share expansion, leading to its takeover by US giant Wal-Mart. But he is the latest in a long line of high level departures from the Asda board, and the chain appears to have found the going more difficult in the last couple of years.
DeNunzio, who was awarded a CBE in the 2005 New Year's Honours list, is to become chairman of Dutch retailer Vendex and is a non-executive director of furniture and kitchens group MFI. Asda meanwhile is left looking for a replacement.
Asda is still the UK's second largest supermarket chain and has recently stepped up its expansion plans by revealing plans to open at least 15 new outlets and create 6,000 jobs this year.
However, its fresh produce department is in a period of transition and is widely believed to be struggling to maintain market share in the intensely competitive UK retail environment.
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