Wal-Mart man is new Halfords boss

Halfords sells about one in three bikes in the UK

Car accessories and bike retailer Halfords has named a top Wal-Mart executive as its new boss.

David Wild, senior vice president for new business development at Wal-Mart US, will take charge in early August.

He replaces Ian McLeod who left the firm in February to run Australian supermarket chain Coles.

Formerly part of Boots, Halfords was bought by private equity group CVC Capital Partners in 2002, before being floated on the stock exchange in 2004.

Pedalling profits

Mr Wild was previously managing director of Wal-Mart Germany and had spent 18 years at Tesco. Halfords chairman Richard Pym said Mr Wild had "the skills and ability to move the company forward".

Halfords sells about one in three of all bikes bought in the UK.

The firm has more than 400 stores across the UK and Republic of Ireland.

Earlier this year it said that demand for new bicycles and vehicle repairs meant that it should meet its expected profit target for 2008.