Asda’s change of leadership as it faces significant challenges.

The British grocer reported a drop in quarterly sales and warned of a potential £100 million hit from the government’s latest budget. Asda, which was sold by Walmart to the Issa brothers and TDR Capital in a £6.8 billion deal in 2020, has been striving to reverse its fortunes through a range of initiatives. These include boosting product availability, enhancing customer experience, and investing heavily in delivering value.

Critical time for Allan Leighton

Leighton is widely credited with revitalising Asda in the late 1990s alongside Archie Norman, the current chair of Marks & Spencer, and orchestrating its subsequent sale to Walmart. His extensive retail pedigree also includes nearly a decade as chair of the Co-op. “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,” Leighton said of his return. Stuart Rose, who has served as Asda's chair since 2021, will remain on the board to "ensure an orderly transition before stepping down," the company confirmed in a statement.