Asda appoints David Potts as CEO to lead next stage of transformation
Asda has appointed David Potts, the former Morrisons chief executive, as its new group chief executive, with immediate effect.
As a result, Allan Leighton has stepped back from his role as executive chairman and become non-executive group chairman.
Subscribe to TRBPotts began his retail career on the shop floor at Tesco at the age of 16. He rose through the ranks to become chief executive of the supermarket’s Ireland, UK and Asia businesses, and sat on the Tesco board from 1998 to 2012.
He joined Morrisons in 2015, succeeding Dalton Philips. During his time there, he led the supermarket’s expansion into wholesale and convenience retail, and later guided its transition to private ownership.
Leighton said: “I am really excited to have appointed David as Group CEO. 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.
“David has an outstanding record in our industry, his experience is exactly what we now require for the next stage of our transformation and beyond and it will be great to work with him.”
Potts said: “Asda has long been a great business, one I’ve admired and traded against over many years. The colleagues are remarkable, some of the most passionate I’ve met.
“The business has made good progress but significant opportunities remain and I’m delighted and very proud to have been asked by Allan to lead the team.
“Providing value to families across the UK has always been in Asda’s DNA and by making improvements to the shopping trip every week, which customers can experience and feel in their pockets, we will revitalise the business and bring benefits for all our stakeholders, including our 116,296 very hard-working colleagues.
“Christmas is upon us and the business has a clear focus on keeping Asda prices locked low at this important time for our customers. I’m excited to get started.”
