Wal-Mart Stores Inc., the biggest retailer in the world, announced today that it is appointing Andy Clarke as the new president and chief executive of its UK supermarket chain Asda Group Ltd. Andy Clarke, who is currently working as the chief operating officer of Asda, will replace Andy Bond, who decided to step down after five years as president and CEO last month.

Andy Bond got a new part time role as chairman of Asda's executive board. Andy Clarke, 46, takes over the new responsibility with immediate effect. "Mr. Clarke knows the company, our colleagues and he cares about our customers. He is the ideal person for the job and this will be a seamless leadership change," said Wal-Mart said in a statement.

Andy Clarke joined Asda Group Ltd., the second biggest supermarket group in UK with 374 stores, first in 1992 as a store manager in Edinburgh. He left the company between 2001 and 2005 for senior positions at discount fashion chain Matalan and frozen food specialist Iceland. In the year 2005, he rejoined Asda as retail director and became chief operating officer in 2007.