Former boss Allan Leighton returns to Asda as executive chair

Leighton will replace Asda’s current chair, Lord Stuart Rose, as sales continue to dip at the third-largest supermarket chain in the UK.

Leighton, who also chaired the Co-op for nearly a decade, played an instrumental part in Asda’s turnaround in the 1990s including orchestrating its sale to Walmart, alongside current Marks & Spencer chair Archie Norman.

Rose, who has been chair since 2021, and took day-to-day responsibility for leading the grocer alongside TDR Capital, will remain on the board “to ensure an orderly transition before stepping down”, Asda said.

Leighton said: “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.

“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.”

Rose added: “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.”