Allan Leighton Returns: Steering Asda's Comeback

Veteran retailer Allan Leighton returns as executive chairman of Asda, aiming to revive the struggling British supermarket. Asda has been losing market share to competitors like Tesco and Sainsbury's. Leighton's comeback comes after a period of declining sales and store standards under the previous chairman, Stuart Rose.

Veteran retailer Allan Leighton is set to make a significant comeback to the British supermarket scene as he returns to Asda as executive chairman. This move comes over two decades after his successful stint as CEO, during which he transformed the company before its sale to Walmart.

Asda, currently ranked the third-largest grocer in Britain and largely owned by private equity firm TDR Capital, has been steadily losing market share to competitors such as Tesco and Sainsbury's. The company has struggled with issues ranging from poor store standards to subpar product availability.

Leighton will be taking over from Stuart Rose, who has been Asda's chair since 2021. Under Rose's leadership, Asda experienced a sales decline, with a notable 4.8% drop in third-quarter sales and financial impacts from recent government budget measures.

(With inputs from agencies.)