Asda Appoints Former Morrisons Boss David Potts as New Chief Executive

David Potts steps into the chief executive role at Asda, replacing Allan Leighton, who transitions to a non-executive position after leading the supermarket since 2024. This leadership change comes as Asda confronts significant challenges, with sales dropping by 0.5% in the three months leading up to October 4.

Aldi now threatens to overtake Asda as the UK's third-largest supermarket. Private equity firm TDR Capital and the Issa brothers acquired Asda in 2020.

The supermarket chain asserts Potts will spearhead revival efforts. Leighton stated, "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, who led Morrisons for eight years from 2015-2023, acknowledged the business made good progress but noted significant opportunities remain to reinvigorate sales. He emphasized a commitment to keeping prices low for shoppers.

Asda claims Leighton had anticipated filling the chief executive role with an internal candidate. However, the supermarket chain also claims Leighton’s move to step aside from the day-to-day running of the group was a planned maneuver.

Potts affirmed, "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."