Asda brings back Allan Leighton in executive chair role
Asda has announced that retail veteran Allan Leighton is to return the supermarket as executive chair as it continues work to revive its fortunes.
He will succeed Stuart Rose who has served as chair since 2021 and will remain with the business to ensure an orderly transition before stepping down.
Leighton, 71, has led a number of UK and international consumer businesses, including as president of Loblaw Companies, North America’s second largest food retail business. He also served as chairman of the Co-op for nine years.
He previously worked with Asda as chief executive from 1996 to 2001 when he was credited with driving a dramatic turnaround.
Earlier this month, Asda reported that its third quarter revenue had fallen by 2.5% to £5.3 billion when fuel was excluded, with like-for-like sales declining by 4.8%.
The supermarket has been busy making improvements for customers in recent months. This has included boosting availability, enhancing the customer experience, and investing in value.
Commenting on 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 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.”
Shareholders have invested £3.8 billion in during the last three years to build a “bigger and better Asda”. This has included growing its store portfolio from 623 to 1,200 while also launching food-to-go sites via organic growth and strategic acquisitions.
