Asda has appointed former Morrisons chief executive David Potts CBE as its new group CEO with immediate effect, it has been revealed.
Potts takes the helm as Allan Leighton moves into the role of non-executive group chairman, as previously planned, where he will focus on the retailer’s long-term strategic direction.
Asda is looking to build on its Formula for Growth strategy, which Leighton said had helped stabilise the business, return it to growth and establish its position as “more than a supermarket”.
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 brings decades of grocery retail experience, having started his career on the Tesco shop floor aged 16 before rising through the ranks to lead its UK, Ireland and Asia operations.
He went on to become chief executive of Morrisons in 2015, where he oversaw a turnaround of the business, expanded its wholesale and convenience operations and guided its transition to private ownership before departing in 2023.
Speaking about his appointment, 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.”
Potts said improving the customer shopping experience and delivering value would be central to his plans to revitalise the supermarket chain.
“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.”
He added that Asda’s immediate priority would be keeping prices low during the crucial Christmas trading period.
“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.”
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