Supermarket chain Asda has announced the appointment of Allan Leighton as its Executive Chair.
Leighton served as Asda CEO from 1996 to 2001, before moving on to senior roles with Canadian food retailer Loblaw Companies and UK retailer Co-op.
Current Chair Lord Rose, who has held the role since 2021, will remain on the board for a transitional period to assist with the handover before stepping down.
This is the latest change at Asda in what has been a tumultuous year, with Zuber Issa selling his shares to majority owner TDR Capital and Mohsin Issa stepping back from his leadership role.
Earlier this month, it was also announced that nearly 500 head office employees would be made redundant.
However, Leighton believes that Asda still holds significant potential for the future.
“Lord Rose 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,” Leighton said.
“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.”
Meanwhile, Rose said it had been a privilege to work alongside the Asda team over the past three years and to support the business during a '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,” he added.
“I look forward to continuing to support Asda as a shareholder and customer over the coming years.”
Finally, TDR Managing Partner Gary Lindsay praised Rose for positioning Asda in a way that would ensure 'long-term success,' before welcoming Leighton's return.
“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,” Lindsay concluded.