Published • loading... • Updated
UK supermarket Asda names former Morrisons boss David Potts as CEO
The retailer said Potts will lead its turnaround as it seeks to revive sales, cut costs and keep prices low for shoppers.
- Asda has appointed David Potts CBE as Group CEO with immediate effect, while current chief Allan Leighton transitions to non-executive Group Chairman after two years leading the supermarket chain.
- Leighton returned in 2024 to stabilize Asda after the 2020 acquisition by TDR Capital and the Issa brothers, as the retailer battled sliding sales and shrinking market share.
- Potts led Morrisons for eight years until 2023, spearheading a turnaround during its buyout by Clayton, Dubilier and Rice. He previously held executive roles at Tesco across its Irish and Asian operations.
- "Made good progress but significant opportunities remain," Potts said, targeting reinvigorated sales with focus on keeping prices low for Asda's 116,296 colleagues and shoppers.
- Leighton described the goal to establish Asda as "more than a supermarket" through the Formula for Growth strategy, with clear focus on keeping prices locked low for customers this Christmas.
Insights by Ground AI
12 Articles
12 Articles
Evening StandardReposted by 
The Independent
The IndependentAsda bags former Morrisons boss David Potts as new chief executive
Mr Potts led Morrisons for eight years until 2023.
·London, United Kingdom
Read Full Article
Asda hands reins to former Morrisons boss in turnaround push
Asda has named a former Morrisons boss as its new chief executive as the embattled grocer looks to accelerate its turnaround efforts. David Potts, who also spent four decades with Tesco, will take over the reins with immediate effect, prompting veteran boss Allan Leighton to step back into a non-executive chairman role two years after he returned to the firm. This comes as Asda sees sales growth for the first time in years, amid huge pressure fr…
·London, United Kingdom
Read Full ArticleCoverage Details
Total News Sources12
Leaning Left2Leaning Right0Center7Last UpdatedBias Distribution78% Center
Bias Distribution
- 78% of the sources are Center
78% Center
L 22%
C 78%
Factuality
To view factuality data please Upgrade to Premium
