A former store manager with Asda took on the chain’s top job today after the supermarket giant named its new chief executive.

Andy Clarke, who first joined Asda in 1992 and has been its chief operating officer since 2007, takes over from Andy Bond, who is now chairman of Asda’s executive board - a newly created role - after five years at the helm.

US firm Walmart International, which owns the Leeds-based chain, said Mr Clarke’s leadership potential had long been identified.

Walmart president Doug McMillon added: "Andy 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."

Mr Clarke becomes chief executive at a challenging time for Asda. While it reported record results in 2009, with like-for-like sales up 6%, its market share has slipped in recent months due to strong competition in the UK.

Supermarket margins are also being squeezed by weaker food price inflation.

Earlier this month the chain set out its ambition to become the market leader in general merchandise and the clear number two in food.

The new chief executive, who is 46 and married with three children, started as a store manager in Edinburgh before taking on director roles in frozen food, bakery and produce. He left the company for senior positions at Matalan and Iceland before returning as retail director in 2005.

Andy Bond said: "I am delighted to appoint Andy Clarke to be my successor. He was clearly the right choice from the internal and external candidates we considered."

Asda employs 170,000 people from 374 stores, including 25 Asda Living shops.