- Former Morrisons chief David Potts has been appointed as the new chief executive of Asda with immediate effect to lead the supermarket's turnaround.
- Allan Leighton will step down from the top job to become non-executive chairman, two years after returning to lead the business.
- Potts previously led Morrisons between 2015 and 2023, managing a major operational turnaround and its buyout by private equity firm CD&R.
- Asda has faced recent challenges including a shrinking market share, nine consecutive quarters of declining like-for-like sales, and complications from an IT overhaul.
- The new chief executive emphasised an immediate focus on keeping prices low for customers ahead of the Christmas trading period.
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