Asda announce return of former boss to succeed Lord Stuart Rose

Supermarket giant Asda has announced the return of Allan Leighton to its boardroom amid an effort to regain market share.

The Leeds-based chain – the UK’s third biggest supermarket operator – revealed Mr Leighton will replace Lord Stuart Rose, who has been chair since 2021. Mr Leighton was chief executive of Asda between 1996 to 2001, helping to secure its £6.7bn sale to US group Walmart.

He has since served as chair of Royal Mail Holdings and the Post Office; as president of Canadian retail group Loblaw Companies, and as chairman of the Co-op.

The appointment is part of an effort to turnaround a sales slump at Asda in recent months. The business is cutting 475 head office roles and has told to return to the office for a minimum of three days per week as part of an extensive restructuring effort. Until September, Asda had been led by co-owner Mohsin Issa who stepped down to concentrate on petrol forecourts business, EG Group, with Lord Rose will taking over Mr Issa’s responsibilities alongside TDR Capital partner Rob Hattrell.

Allan 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.”

Lord Rose said: “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.”

Gary Lindsay, managing partner of TDR Capital, Asda majority owner, 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.”