Asda has announced that Allan Leighton has been appointed executive chair, succeeding Lord Stuart Rose.

Leighton has led a number of UK and international consumer businesses, including serving as a chief executive of Asda from 1996 to 2001, president of Loblaw Companies, North America’s second largest food retail business, and nine years as chairman of The Co-op.

Stuart Rose, who has served as chair since 2021, will remain on the Board to ensure an orderly transition before stepping down. 

Allan Leighton said: “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. 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 Rose said: “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.” 

Gary Lindsay, managing partner of TDR Capital, said: “We would like to thank Stuart for the role he has played over the past three years and for the work he has done to help position Asda for long-term success.

“Asda today has both a leading superstore estate and a strong position in every format, and Allan’s experience and understanding of Asda will stand us in good stead as he leads the business into the next stage of its development. We are looking forward to working with Allan to help Asda deliver on its potential.”