Asda Chairman Stuart Rose Takes Executive Role

Mohsin Issa is stepping back from his executive role at Asda to focus on his position as sole CEO of EG Group, while Lord Stuart Rose will take on his responsibilities on an interim basis. Issa, who remains a co-owner and non-executive board member of Asda, cited the need to concentrate on EG Group's growth as the reason for his departure. This transition follows a challenging period for Asda, which has been grappling with declining sales and market share, as well as internal leadership changes. Issa's exit comes shortly after his brother Zuber Issa sold his stake in the supermarket, suggesting potential family tensions. Asda is currently in search of a new chief executive to lead its recovery efforts, with an announcement expected soon. Industry observers note that the supermarket is struggling to attract experienced leadership amid ongoing operational challenges.