Former Asda director Ian McLeod is to become MD of Australian group Coles at the end of the month.

McLeod, who played a key role in Asda's recovery in the 1990s, will be leading Coles' five-year recovery programme, which has begun under owner Wesfarmers. The conglomerate bought the chain for AU$20bn (£8.5bn) last November, and said the business would be streamlined.

"There is a significant challenge ahead, but also enormous potential," said McLeod. "The transformation will clearly take time and hard work."

McLeod has been with Halfords Group since 2003 and was made CEO in 2005.