Asda’s turnaround king names heir to the throne
Allan Leighton was adamant. Just two months ago, Asda’s then-executive chairman insisted that his position as the sole leader of the discount grocer’s turnaround plans would not change any time soon. It had been rumoured that Asda was on the lookout for a chief executive to bolster its efforts to return to its heyday, but [...]
Allan Leighton, the former executive chairman of Asda, has appointed David Potts, a former boss of rival supermarket Morrisons, as the new chief executive of the discount grocer. Leighton had previously stated that any leadership changes would come from within Asda’s existing top team. Potts, who took up his new role with immediate effect, hails from a background in operational leadership, having previously worked with finance chief Michael Gleeson at both Tesco and Morrisons.
The move comes as Asda and its main rival Morrisons battle to regain market share and recover from the competitive pressures of discount supermarket chains Aldi and Lidl. With Asda currently holding an 11.5% market share, down from 11.8% a year ago, the supermarket chain faces a tough task in rebuilding its reputation for value and improving the overall shopping experience for customers.
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