In a shock announcement today (12 March), Wal-Mart revealed that Andy Bond is stepping down as chief executive of Asda. The news has raised many an eyebrow in the world of UK retail, as it comes hot on the heels of speculation that Asda is gearing up for a major acquisition and ahead of a highly-anticipated investor meeting. Bond's departure - and the appointment of his successor - will prove telling not only for Asda but also for the landscape of the UK's retail sector, Katy Humphries suggests.