Former Asda CEO Allan Leighton returns as chair to lead recovery effort - Retail Gazette

This weekend, Asda reinstated its ex-CEO Allan Leighton as the executive chair, taking over from Stuart Rose due to a decline in sales.

According to a statement from the retailer, Rose will stay on the board "to facilitate a smooth transition before resigning."

Since 2021, he has held the position of chair, sharing the daily management of the grocery store with Rob Hattrell, an executive from TDR, the private equity firm that holds a majority share in the supermarket chain. This change came after co-owner Mohsin Issa resigned from his role.

Leighton served as the CEO of Asda between 1996 and 2001 and led the Co-op for nearly ten years. He is recognized for revitalizing Asda in the late 1990s, partnering with Archie Norman, who is now the chair of M&S, and for facilitating the company’s acquisition by Walmart.

Leighton expressed that Asda has great potential moving forward, and his goal is to collaborate with the leadership team to enhance the experience for both employees and the millions of customers they serve.

He remarked, “Stuart has played a key role in establishing a retailer that operates across various formats, and I’m thrilled to be coming back to a company that has always held a special significance for me.”

Stuart Rose remarked, “It has been an honor to collaborate with the Asda team for the past three years and assist the company during this time of change.”

"Asda will gain significantly from Allan's expertise in guiding the company, and I’m happy to welcome him back on behalf of the Board. I’m excited to keep supporting Asda as both a shareholder and a customer in the years ahead."

Earlier this month, the supermarket reported a decline in its quarterly sales and cautioned that the new government budget could lead to a £100 million loss.

The company, which was sold to the Issa brothers and TDR for £6.8 billion in 2020 by Walmart, has been working hard to make improvements for its customers in recent months in an effort to boost its sluggish sales. This has involved increasing product availability, enhancing the overall shopping experience, and investing in better value for customers.

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