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Asda has announced the appointment of former CEO Allan Leighton as new executive chair, succeeding Stuart Rose who has served as chair since 2021.
Leighton has led a number of UK and international consumer businesses, including serving as a chief executive of Asda from 1996 to 2001, president of Loblaw Companies, North America’s second largest food retail business, and nine years as chairman of The Co-op.
Rose will remain on the board to ensure an orderly transition before stepping down.
Regarding his appointment, Leighton said: “Stuart has done an important job in helping to create a retailer with a presence in every format and I am delighted to be returning to the business which has always been a special place for me. The potential for Asda now is significant, and my focus will be to work with the leadership team to help make Asda special for our colleagues and millions of customers.”
Rose added: “It has been a privilege to work alongside the Asda team over the past three years and to support the business through this period of transition. Asda will benefit enormously from Allan’s experience of leading the business and on behalf of the board I am pleased to welcome him back. I look forward to continuing to support Asda as a shareholder and customer over the coming years.”
The group has invested £3.8bn during the last three years to build a “bigger and better Asda” for the long term. This has enabled the chain to grow its store footprint from 623 to 1,200 stores and food-to-go sites via organic growth and strategic acquisitions, and launch a successful loyalty app, which now has six million active customers.
Gary Lindsay, managing partner of TDR Capital, said: “We would like to thank Stuart for the role he has played over the past three years and for the work he has done to help position Asda for long-term success.
“Asda today has both a leading superstore estate and a strong position in every format, and Allan’s experience and understanding of Asda will stand us in good stead as he leads the business into the next stage of its development. We are looking forward to working with Allan to help Asda deliver on its potential.”
