Asda appoints former Morrisons boss as chief executive as sales struggle
Summary
Asda appointed former Morrisons chief executive David Potts as its chief executive, effective immediately, as the UK supermarket tries to improve sales. Executive chair Allan Leighton will move to a non-executive role focused on long-term strategy.Key Facts
- Potts, 69, led Morrisons from 2015 to 2023.
- Before Morrisons, Potts spent decades at Tesco, where he began working at age 16.
- Leighton, 73, had been running Asda since 2024.
- Asda sales fell 0.5% in the three months to 4 October, according to Worldpanel by Numerator.
- Aldi is close to overtaking Asda as the UK’s third-largest supermarket, with about one percentage point separating them.
- Asda and Morrisons face strong competition and high levels of debt.
- Potts’s appointment followed a long search for a chief executive; Leighton had indicated he expected to choose an internal candidate.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
