Asda appoints Allan Leighton to lead its turnaround strategy as executive chairman.
- Leighton replaces Lord Stuart Rose, who remains on the board temporarily.
- The change follows a decline in Asda’s sales, prompting strategic shifts.
- Leighton, a past CEO, is recognized for successfully reviving Asda in the 1990s.
- Leighton’s leadership coincides with Asda’s ongoing search for a new CEO.
In a strategic move aimed at halting its recent sales slump, Asda has appointed Allan Leighton as its executive chairman. Replacing Lord Stuart Rose, who played a role in Leighton’s appointment, Leighton steps in during a crucial period for the supermarket chain.
Leighton is no stranger to Asda, having served as CEO from 1996 to 2001. During his tenure, he was instrumental in turning the company around alongside Archie Norman, currently the chair of M&S. Leighton also brings experience from his long-term chairmanship at the Co-op, positioning him well to tackle Asda’s current challenges.
Rose, appointed chair in 2021, has been managing day-to-day operations, working closely with TDR Capital and board member Rob Hattrell. Although stepping down from the chair role, Rose will ensure a smooth transition and continue supporting Asda as a shareholder and customer.
Leighton expressed enthusiasm about returning to Asda, describing it as a special place for him. He emphasized his commitment to working with the leadership team to enhance the company’s appeal to both employees and customers.
This leadership restructure comes as Asda continues its search for a new CEO following Mohsin Issa’s shift to full-time CEO of EG Group. Until a new CEO is appointed, Leighton’s role may remain hands-on, even in a potential future non-executive capacity.
Leighton’s appointment marks a significant step in Asda’s efforts to regain its market position.
