Asda - comment
The departure of Mohsin Issa as ASDA CEO was expected, but the inability to get someone to take on the job is a puzzle. The separation of ASDA from Walmart’s IT systems is progressing fairly smoothly, given the scale of the work. Walmart is also at least partly indemnifying ASDA for the equal pay claim. The reluctance may be related to any future disposal of ASDA by TDR and the time allowed for a new CEO to stamp their strategy on the company. Also, with Stuart Rose stepping up, TDR may not see the necessity of rushing this fence.