Allan Leighton has returned to Asda as executive chair amid declining sales.
- He replaces Stuart Rose, who remains on the board for a smooth transition.
- Leighton was Asda’s CEO from 1996 to 2001 and played a key role in its sale to Walmart.
- Stuart Rose appreciates Leighton’s return, highlighting his leadership experience.
- Asda is undergoing efforts to improve sales following a dip and economic pressure.
Allan Leighton’s return to Asda as executive chair signifies a strategic move to address the supermarket’s declining sales. With a history as CEO from 1996 to 2001, Leighton is recognised for his pivotal role in turning the business around during the late 1990s, including orchestrating its sale to Walmart. His extensive experience brings a promise to revitalise Asda during challenging economic times.
Stuart Rose, the outgoing chair, will remain on the board temporarily to ensure a smooth leadership transition. Rose, who has led Asda since 2021, operated alongside Rob Hattrell of TDR, the equity firm owning a major stake in Asda, following Mohsin Issa’s step back from daily operations. Rose acknowledges the task ahead and expresses confidence in Leighton’s capability to lead Asda effectively.
Leighton expressed his enthusiasm upon returning, highlighting the significant potential he sees for Asda. He aims to collaborate with the leadership to make the retailer a distinctive place for both employees and millions of customers. Leighton recognises the efforts of Stuart Rose in broadening Asda’s market presence and expresses his delight in coming back to what he terms a “special place.”
Sales at Asda have been under pressure, with recent figures showing a quarterly decline alongside warnings of a £100 million impact due to the government’s budget. The supermarket, acquired by the Issa brothers and TDR in 2020 for £6.8 billion, is actively working on boosting product availability, enhancing the customer experience, and investing in value to reverse these sales challenges.
Allan Leighton’s strategic leadership is expected to navigate Asda through its recovery phase and into future successes.
