Asda names former Marks & Spencer boss Lord Rose as new chair

Rose, who currently chairs the Issas’ petrol forecourt business, EG Group, will join Asda on December 1.

He will be joined on the supermarket giant’s board by Dame Alison Carnwath, who previously served as chair of property giant Landsec and now leads EG Group’s audit committee. Carnwath will become a non-executive director, also effective from December 1.

Asda hailed the “significant appointments” as it shores up its leadership team and targets “long-term success”.

Retail veteran Rose ran M&S between 2004 and 2011 as chief executive and then executive chair, before spending seven years as chair at Ocado, a role he left in 2020.

Rose, whose CV also includes executive positions at Burton, Argos, Booker and Arcadia, was named chair of EG Group in January last year.

At Asda, Rose will lead a board that includes the grocer’s co-owners Mohsin Issa, Zuber Issa and TDR Capital duo Manjit Dale and Gary Lindsay.

US retail giant Walmart, which retained a minor stake in Asda after selling the business to the Issa brothers and TDR for £6.8bn in February, is represented on the board by its chief operating officer Chris Nicholas.

They will now be joined by chartered accountant Carnwath, who has previously held board positions at Barclays, BP and Zurich Insurance.

Rose said: “I am joining the board at a hugely exciting time, as Asda builds on the incredible resilience it has demonstrated during the pandemic and embarks on the next chapter of its evolution and growth under new ownership.

“I am pleased to be joined on the board by Dame Alison, who brings rigour and focus to everything she does, and look forward to confirming further non-executive appointments to our board in the near future.”

Rose provided no update on Asda’s search for a new chief executive following the departure of Roger Burnley, but said it was “a priority” for the board.

Carnwath said: “Asda plays an important role in the daily lives of millions of consumers across the UK and I am looking forward to working with Lord Rose, Mohsin and Zuber Issa and the entire Asda team to support the business as it builds on strong foundations to drive growth.”

Mohsin and Zuber Issa added: “We are pleased to have Lord Rose and Dame Alison join the board of Asda. They have already provided invaluable support and wisdom to the board of EG Group, and we know their insight and experience will add huge value at Asda, too.

“We are committed to ensuring this iconic business has the right governance and management framework in place to set it up for long-term success.

“The appointment of Lord Rose and Dame Alison marks an important step forward in this ongoing process and we plan to appoint further independent non-executive directors in due course.”