Allan Leighton Returns: A New Era for Asda

Veteran retailer Allan Leighton returns to Asda as executive chairman, aiming to revive the struggling supermarket. With a history of achieving successful turnarounds, Leighton replaces Stuart Rose and plans to navigate challenges like declining sales and stiff competition from rivals Tesco and Sainsbury's.

Allan Leighton, a seasoned retailer, is set to return to Asda as the executive chairman, marking over two decades since his last tenure as CEO when he revitalized the brand before its sale to Walmart.

Currently, Asda, the third-largest supermarket in Britain now under TDR Capital's majority ownership, faces declining market shares against main competitors Tesco and Sainsbury's. Leighton steps in following Stuart Rose, who took interim executive responsibilities after criticizing the store's performance and standards recently.

Asda reported a drop in third-quarter sales by 4.8% and forewarned about an additional financial burden due to new budgetary measures by the Labour government. Leighton's expansive experience including roles at Loblaw and the Royal Mail positions him as a capable leader to turn around Asda's diminishing fortunes.

(With inputs from agencies.)