Asda-Wal-Mart's European finance chief Tony DeNunzio has replaced Paul Mason as the new Asda boss. The 41-year-old has been with Asda for eight years in various financial posts, including commercial director and retail finance director. He has previously worked at L'Oréal, Unilever and PepsiCo. Asda heralded the move as an internal appointment from "one of the most talented management teams in retail". Dave Ferguson, president Wal-Mart Europe, said: "Tony has considerable international experience including his work on the integration of the Asda and Wal-Mart businesses. He will lead a strong team in a business that continues to go from strength to strength." A spokeswoman added that DeNunzio's appointment was a continuation of the chain's history of nuturing home-grown Asda talent. She said: "Tony has very sound financial and business judgement, trading experience, and people management experience." His appointment was greeted warmly by the City. One analyst said: "It was the appointment we expected. It makes sense as he is one of the remaining old guard from the Leighton era and has experience of the company." l See pages 14-15. {{NEWS }}

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