Asda hires former Morrisons boss David Potts as chief executive

Summarised from 2 outlets · Updated 3 Nov, 18:51 · Archive

Asda has appointed David Potts, who previously led Morrisons, as its new chief executive.

Asda has appointed David Potts as its new chief executive, effective immediately. Potts previously led Morrisons for eight years until 2023, during which he oversaw a turnaround before the group was bought by US private equity firm Clayton, Dubilier & Rice. Before Morrisons, he served as chief executive of Tesco's Irish business, its UK arm and its Asian operation.

Outgoing chief Allan Leighton, who returned to Asda in 2024 more than two decades after previously serving as chief executive, becomes non-executive chairman. The move was planned. Leighton 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 added that Potts 'has an outstanding record in our industry'.

Asda has been owned by private equity firm TDR Capital and billionaire Issa brothers since 2020. Potts said the firm 'has made good progress but significant opportunities remain' to reinvigorate sales, with a focus on keeping prices low for shoppers.

How it is being reported

• Major supermarket chain hires former Morrisons and Tesco bossAsda has hired former Morrisons boss David Potts as its new chief executive to help lead revival efforts at the supermarket chain.Worcester News · 3 Nov, 18:12
• Major supermarket chain hires former Morrisons and Tesco bossAsda has hired former Morrisons boss David Potts as its new chief executive to help lead revival efforts at the supermarket chain.Malvern Gazette · 3 Nov, 18:12

In this story: Asda · David Potts · Morrisons · Tesco · Allan Leighton · TDR Capital · Issa brothers

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log