Allan Leighton, former CEO of Asda, has been appointed as the executive chair, taking the reins from Lord Stuart Rose. This leadership change comes as Asda embarks on a crucial turnaround plan to address its recent sales decline.
In a strategic move to revitalise its operations, Asda has appointed Allan Leighton as its new executive chair. Leighton, who previously served as CEO from 1996 to 2001, is stepping into the role as the retailer seeks to halt a downward trend in sales. His past experience at Asda, where he worked alongside current M&S chair Archie Norman, was marked by significant successes in turning the business around in the late 1990s.
Asda has confirmed that Lord Stuart Rose will remain on the board temporarily to ensure a smooth transition before stepping down. Rose, who has held the chair position since 2021, has been instrumental during this period of change. Under his guidance, Asda has maintained its presence across various retail formats, working closely with TDR Capital, the private equity firm holding a majority share of the company.
Leighton expressed enthusiasm about his return, highlighting the potential for Asda to excel under his guidance. ‘I am delighted to be returning to the business which has always been a special place for me,’ he stated, outlining his focus to collaborate with Asda’s leadership team. His remarks reflect a determination to enhance the shopping experience for both employees and the millions of customers reliant on Asda.
The appointment of Leighton coincides with Asda’s ongoing search for a new CEO, following Mohsin Issa’s shift away from his executive duties to focus on leading the EG Group. This adds another layer of importance to Leighton’s new position, as he will not only lead strategic efforts but also play a key role in the managerial reorganisation.
Lord Stuart Rose expressed his support for Leighton’s return, noting the benefits of his experience to the company. ‘It has been a privilege to work alongside the Asda team over the past three years,’ Rose commented, expressing his intention to support Asda as a shareholder and customer going forward.
This leadership change is indicative of Asda’s broader strategy to reinvigorate its market presence and adapt to evolving consumer demands. Asda remains one of the UK’s leading supermarket chains, and its success in overcoming these challenges could set a precedent for similar businesses encountering market pressure.
The return of Allan Leighton as executive chair signals Asda’s commitment to reinvigorating its brand and operations. With a rich history at the company and a proven track record, Leighton is poised to lead Asda through its current challenges and towards a promising future.
