Asda hires ex-Morrisons boss in bid to grow firm
David Potts takes charge of Asda, which is based in Leeds, with immediate effect.
Asda hires ex-Morrisons boss in bid to grow firm
Asda has named a former Morrisons boss as its new chief executive in an effort to drive a revival at the supermarket chain.
The Leeds-based company said David Potts would start the role immediately, while current boss Allan Leighton would move into the position of non-executive chairman, two years after returning to lead the business.
Potts ran Morrisons from its Bradford headquarters for eight years until 2023, overseeing a turnaround that ended with the supermarket chain being acquired by US private equity firm Clayton, Dubilier & Rice.
Potts said Asda had "made good progress but significant opportunities remain" to boost sales, with an emphasis on keeping prices low for shoppers.
"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 said.
Before joining Morrisons, Potts was chief executive of Tesco's Irish business, its UK arm and its Asian operation.
Asda said Leighton had intended to step back from the day-to-day running of the group after he returned in 2024, more than two decades after previously serving as chief executive.
"Over the last two years, we have stabilised the business and returned it to some growth," said Leighton.
"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."
Last year, problems with an IT upgrade affected product availability at the supermarket and hurt sales, weighing on its bottom line.
But in August, it said sales had returned to growth for the current quarter for the first time in two years.