Asda appoints Allan Leighton as executive chairman to navigate challenges and guide development

From Investing.com: 2024-11-23 07:20:48

Struggling British supermarket Asda appoints Allan Leighton as executive chairman, returning more than two decades after turning around the business and selling it to Walmart. Leighton succeeds Stuart Rose, who highlighted issues like inadequate store standards and falling sales. Asda reported a 4.8% sales drop in third quarter and faces 100 million pound costs due to new government measures. Leighton’s experience and understanding will guide Asda into the next stage of development. Walmart retains a 10% stake in Asda.



Read more at Investing.com: Britain’s Asda brings back industry veteran Leighton to lead business By Reuters