Asda has appointed former Morrisons chief executive David Potts as its new boss with immediate effect, the Leeds-based supermarket chain confirmed on Monday. Potts, a veteran of the British grocery sector who led Morrisons for nine years until 2024, takes the helm at a time when Asda is seeking to reverse a prolonged period of weak sales and market share losses to discount rivals. The appointment follows a turbulent stretch for the retailer, which has seen a series of leadership changes since its acquisition by the Issa brothers and TDR Capital in 2021.
Potts inherits a business grappling with intense competition from Tesco, Sainsbury's, Aldi and Lidl, alongside pressure to reduce debt and revive its core supermarket offering. Analysts said his turnaround experience at Morrisons, where he rebuilt the brand's value credentials and improved store standards, could prove valuable. Asda said the hire reflects its ambition to grow the firm and sharpen its competitive edge. Potts said he was looking forward to working with colleagues to deliver for customers. The company did not disclose terms of the appointment or detail its immediate strategy.
Independent reporting synthesized from primary wires and global correspondents.