Former M&S boss appointed chairman of Asda
Stuart Rose will become chair at Asda (Lauren Hurley/PA)
Asda has appointed former Marks & Spencer boss Stuart Rose as its new chairman.
The supermarket group, which was bought by the billionaire Issa brothers and private equity backers TDR Capital for ÂŁ6.8 billion last year, has confirmed that Stuart Rose take up the role next month.
Stuart Rose was also named as the chair of EG Group – the forecourt giant also owned by the Issa brothers and TDR – last year.
The retailer has also appointed Alison Carnwath, another director at EG, to be a non-executive director at Asda.
Mr Rose, who was chair at Ocado until last year, said his “priority” will be to find a new chief executive to lead Asda as it continues its transition with its new owners.
Former boss Roger Burnley left the supermarket group ahead of schedule in August, leaving the business without a successor in place.
“I am delighted to be appointed Chair of Asda, one of the biggest and best retail businesses in Britain,” Stuart Rose added.
“I am joining the board at a hugely exciting time, as Asda builds on the incredible resilience it has demonstrated during the pandemic and embarks on the next chapter of its evolution and growth under new ownership."
He said he is pleased to be joined on the board by Alison Carnwath who he said brings "rigour and focus to everything she does".
“We are both excited at the prospect of working with Mohsin and Zuber and the wider Asda team as they look to build on Asda’s strong heritage of delivering affordable quality across food, fashion and general merchandise – and of championing customers at every turn.”
Alison Carnwath said: “I am delighted to be joining the board of Asda as a non-executive director."
In a joint statement, Mohsin and Zuber Issa said they are committed to ensuring the "iconic business" has the right governance and management framework in place to set it up for long-term success.
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