Asda appoints former Morrisons boss David Potts as group CEO

Summarised from 4 outlets · Updated 3 Nov, 17:56 · Archive

Asda has appointed David Potts, former chief executive of rival Morrisons, as its new group chief executive with immediate effect.

Asda has appointed David Potts, the former chief executive of Morrisons, as its new group CEO with immediate effect. Allan Leighton, who has been leading the business, will become non-executive chairman. Leighton said the appointment would support the next stage of Asda's transformation.

Potts led Morrisons for eight years until 2023, guiding the retailer through a turnaround before its takeover by US private equity firm Clayton, Dubilier & Rice. He previously held senior roles at Tesco, including chief executive of the company's Irish, UK and Asian operations.

Leighton returned to lead Asda in 2024, more than two decades after his previous tenure as chief executive. He said: 'Over the last two years, we have stabilised the business and returned it to some growth and begun to establish Asda as more than a supermarket through our Formula for Growth strategy.' He praised Potts' experience as what Asda required for its next stage of transformation.

Asda, owned by TDR Capital and the Issa brothers since 2020, has been cutting prices to regain market share. Last year, the retailer suffered losses following an IT upgrade that disrupted product availability and sales.

Potts said: 'By making improvements to the shopping trip every week, which customers can experience and feel in their pockets, we will revitalise the business.' He emphasised keeping prices locked low at what he described as an important time for customers as Christmas approaches. Asda employs 116,296 staff.

How it is being reported

• Asda hires ex-Morrisons boss in bid to grow firmDavid Potts takes charge of Asda, which is based in Leeds, with immediate effect.BBC Leeds And West Yorkshire · 3 Nov, 15:12
• Asda scoops former Morrisons boss David Potts as its new chief executiveHe’s been appointed to the top role with immediate effectYorkshire Evening Post · 3 Nov, 11:38
• Morrisons ex chief named new Asda boss at 'important time for our customers'Mr Potts led Morrisons for eight years until 2023.Telegraph & Argus · 3 Nov, 11:30
• Asda appoints former Morrisons boss David Potts as group CEOThe Leeds-based supermarket chain Asda has appointed the former boss of rival Morrisons as its new CEO.Yorkshire Post · 3 Nov, 08:55

In this story: David Potts · Allan Leighton · Asda · Morrisons · Tesco · Clayton, Dubilier & Rice · TDR Capital · Leeds

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