Asda unveils new board appointments

Asda has appointed Lord Rose as its new chairman and Dame Alison Carnwath as non-executive director, with both appointments taking effect from 1 December. Rose is currently chairman of Zenith Automotive and the EG Group. Previously, he was CEO and executive chairman of Marks and Spencer, and he has also held executive roles at the Burton Group, Argos, Booker and Arcadia. Additionally, he has held non-executive roles at Woolworth Holdings SA and more recently at Ocado, where he spent seven years as chairman. Meanwhile, Carnwath has a “strong track record” as a non-executive director of some of the UK’s leading companies. She qualified as a chartered accountant with Peat Marwick Mitchell (now KPMG) and has since worked in corporate finance for Lloyds and J. Henry Schroder Wagg in New York. She has held a number of board positions at Barclays, the Man Group, BP and Zurich Insurance Group, and has also been chair of Vitec and Land Securities Group. Earlier this year, Carnwath was appointed to the EG Group board and leads its Audit Committee. As chair, Rose will be responsible for leading the Asda Group board, which comprises co-owners of Asda Mohsin and Zuber Issa, Manjit Dale and Gary Lindsay of TDR Capital Ltd, Chris Nicholas, executive vice-president and chief operating officer, Walmart U.S, and Carnwath. Additionally, Asda said the new appointments “significantly strengthen the Asda board and demonstrate a clear commitment to strong governance of the business by its owners, the Issa brothers and TDR Capital LLP”. Rose said: “I am delighted to be appointed chair of Asda, one of the biggest and best retail businesses in Britain. I am joining the board at a hugely exciting time, as Asda builds on the incredible resilience it has demonstrated during the pandemic and embarks on the next chapter of its evolution and growth under new ownership.” Carnwath added: “I am delighted to be joining the board of Asda as a non-executive director. Asda plays an important role in the daily lives of millions of consumers across the UK and I am looking forward to working with Lord Rose, Mohsin and Zuber Issa and the entire Asda team to support the business as it builds on strong foundations.” Mohsin and Zuber Issa added: “We are pleased to have Lord Rose and Dame Alison join the board of Asda. They have already provided invaluable support and wisdom to the board of EG Group, and we know their insight and experience will add huge value at Asda too.”

Asda unveils new board appointments

Rose and Carnwath both join Asda from the EG Group where Rose is currently chairman and Carnwath is a member of the board, leading its Audit Committee.

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