Asda's Leadership Transition: Allan Leighton Returns

Allan Leighton, a veteran in the retail industry, returns to Asda as executive chair, replacing Stuart Rose. Leighton aims to revitalize Asda, following a recent dip in sales and challenges from the UK government's budget.

Allan Leighton, a seasoned leader in the retail sector, has been appointed as executive chair of Asda, marking a significant leadership change at Britain's third largest supermarket chain. Leighton replaces Stuart Rose, who will stay on the board temporarily to ensure a smooth transition, Asda announced.

Leighton previously served as CEO of Asda from 1996 to 2001 and has held top positions in other major consumer businesses globally. Regarding his new role, Leighton expressed enthusiasm about Asda's potential and pledged to collaborate with the leadership team to enhance the shopping experience for both employees and customers.

Despite the leadership change, Asda is facing some challenges. The company recently reported a decrease in quarterly sales and flagged a potential financial impact of 100 million pounds due to the UK's latest budgetary developments. Stuart Rose emphasized that although Asda was undergoing difficulties, there is potential for recovery.

(With inputs from agencies.)