A RETAIL high-flyer who became boss of Asda at the age of 39 is to turn his back on big corporate life following his departure from the chain.

Andy Bond spent five years as Asda’s chief executive after joining the supermarket in 1994, but has opted to join two up-and-coming retail businesses – fashion chain Republic and forecourt operator Euro Garages.

As executive chairman of both firms, he will invest his own money and offer management time in return for an equity stake in both businesses.

The appointments represent a change of direction for the retail boss, who has long been seen as a prime candidate to head a FTSE 100 Index company, but now says he wants to move on from big corporate life.

The two firms are close to his Yorkshire home and have plans to grow from medium-sized players into large-scale national operators.

Republic, based in Leeds, launched in May 2007 and trades from 113 stores, offering high street brands, as well as its own labels such as Soul Cal and Miso.

Blackburn-based Euro Garages is the UK’s second largest independent forecourt operator with 67 sites. It has a turnover of £285m and employs about 1,000 people.

Mr Bond’s departure as chief executive of Wal-Mart owned Asda was announced in last April, but he stayed to choose his successor – chief operating officer Andy Clarke – and led the Wal-Mart team that recently bought South Africa’s Massmart.

His departure from his subsequent part-time role as chairman of the Asda executive committee was announced last week. He said: “Every job has a lifespan, and you judge when it’s right to move on.

My track record demonstrates that I’ve done a good job.”