Allan Leighton Appointed Executive Chair of Asda

Asda has appointed Allan Leighton as its new executive chair, replacing Stuart Rose, who will remain on the board for a smooth transition. Leighton, a seasoned retail veteran with a history of successful leadership roles, previously served as CEO of Asda from 1996 to 2001 and has held positions at various major consumer businesses. His return comes at a challenging time for Asda, as the company reported a decline in quarterly sales and faces a potential £100 million impact from recent UK budgetary changes. Leighton expressed optimism about Asda's potential and aims to enhance the experience for both employees and customers amidst increasing competition from discount retailers like Aldi and Lidl. His track record in corporate turnarounds positions him as a transformative figure for the supermarket as it seeks to adapt to changing consumer habits and economic pressures. Leighton's leadership is seen as crucial for Asda's strategic vision, especially following its recent acquisition of 132 Co-op stores to bolster its convenience offerings.