// Asda CFO John Fallon has quit the grocer and will replaced by his counterpart at Morrisons Michael Gleeson
// Fallon is the latest senior departure at Asda, which has seen its CEO, COO, chief merchandising officer and chief strategy officer since it was taken over by the Issa brothers last year
Asda’s CFO John Fallon has quit the grocer after less than a year in the role and is to be replaced by his counterpart at Morrisons Michael Gleeson.
Fallon was promoted to chief financial officer in June last year but it has emerged that he is departing Asda to “take on new challenges”.
He will be replaced by Gleeson, who revealed last month that he was leaving Asda’s rival Morrisons.
Gleeson has spent eight years at Morrisons, starting as group financial controller in 2014 before rising through the ranks and taking the role of CFO in 2020 when previous incumbent Trevor Strain became chief operating officer. Gleeson is being replaced at Morrisons by its current operations development director Joanna Goff.
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Gleeson will not join Asda until next year, the grocer said. In the interim, Steven Nuttall, Asda’s vice president of commercial finance, will take on the day-to-day running of the finance function.
Fallon’s departure is the latest senior departure from Asda since it was bought by the Issa brothers and private equity firm TDR Capital in a £6.8 billion deal in early 2021.
Exits include chief executive Roger Burnley, chief operating officer Anthony Hemmerdinger, chief merchandising officer Derek Lawlor, and chief strategy officer Preyash Thakrar.
Despite the raft of departures, Asda owners the Issa brothers are targeting growth and have unveiled plans to overtake Sainsbury’s as the UK’s second biggest grocer.
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It’s very difficult to keep up with all these changes. It is clearly not a happy ship. One wonders if it is all being “built on sand”. The focus seems to be on what / who can we buy this week? rather than driving the turnover and standards of the supermarket group.