Former Tesco and Walmart Germany exec David Wild has stepped down as CEO of Halfords after the company issued a profit warning.

Wild, who joined Halfords in August 2008, left after the company admitted second-half like-for-like sales were “likely to be flat to mid-single-digit negative”, and pre-tax profits would be £62m to £70m.

“I have enjoyed my time at Halfords and feel we have accomplished a great deal during my tenure as CEO,” he said.