Asda has hired former Tesco man Alex Russo as its new chief financial officer.
Russo, who will take up the role from 6 January, has a background in international retail having previously served as CFO of Tesco’s South Korean business. He currently serves as a senior independent director at Delosi, a Peru-based company specialising in restaurant franchises including Starbucks, KFC and Pizza Hut.
He will be replacing Richard Mayfield, who is to leave the UK retailer in February to join parent company Walmart International as the new CFO of its EMEA region.
“Richard has left the business in great shape for the future and together we have developed a strategy which will see Asda redefine value retailing in the UK over the next five years,” said Asda president Andy Clarke.
“With a strong pedigree as an international retail leader, Alex is a great addition to the Asda team. He will play a crucial role in delivering our new strategic priorities.”
Mayfield became Asda CFO in February 2012.