Asda has appointed former Marks & Spencer chief executive Lord Stuart Rose as its new chairman.<\/p>\n
<\/p>\n
The supermarket group, which was bought by the billionaire Issa brothers and private equity backers TDR Capital for \u00a36.8 billion last year, has confirmed that Lord Rose take up the role next month.<\/p>\n
Lord Rose was also named as the chair of EG Group \u2013 the forecourt giant also owned by the Issa brothers (Mohsin and Zuber) and TDR \u2013 last year.<\/p>\n
The retailer has also appointed Dame Alison Carnwath, another director at EG, to be a non-executive director at Asda.<\/p>\n
Lord Rose, who was chair at Ocado until last year, said his \u201cpriority\u201d will be to find a new chief executive to lead Asda<\/strong> as it continues its transition with its new owners.<\/p>\n Former CEO Roger Burnley left the supermarket group ahead of schedule in August, leaving the business without a successor in place.<\/p>\n \u201cI am delighted to be appointed Chair of Asda, one of the biggest and best retail businesses in Britain,\u201d Lord Rose added.<\/p>\n \u201cI 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<\/strong> under new ownership.<\/p>\n \u201cI am pleased to be joined on the board by Dame Alison, who brings rigour and focus to everything she does, and look forward to confirming further non-executive appointments to our board in the near future.<\/p>\n \u201cWe are both excited at the prospect of working with Mohsin and Zuber and the wider Asda team<\/strong> as they look to build on Asda\u2019s strong heritage of delivering affordable quality across food, fashion and general merchandise \u2013 and of championing customers at every turn.\u201d<\/p>\n Dame Alison Carnwath said: \u201cI am delighted to be joining the board of Asda as a non-executive director.<\/p>\n \u201cAsda plays an important role in the daily lives of millions of consumers across the UK and I am looking forward to working with Lord Rose, Mohsin and Zuber Issa and the entire Asda team to support the business as it builds on strong foundations to drive growth.\u201d<\/p>\n In a joint statement, Mohsin and Zuber Issa said: \u201cWe are committed to ensuring this iconic business has the right governance and management framework in place to set it up for long-term success.<\/p>\n \u201cThe appointment of Lord Rose and Dame Alison marks an important step forward<\/strong> in this ongoing process and we plan to appoint further independent non-executive directors in due course.\u201d<\/p>\n Lord Stuart Rose is one of the most seasoned retail executives in the business and prior to holding the top job at M&S, he was CEO at former fashion retail giant Arcadia, Argos and Booker. <\/strong><\/p>\n Since standing down from M&S he has held a number of chairman and non-executive director roles including at Ocado, Fat Face, Dressipi and South Africa's Woolworths Holdings.<\/p>\n","protected":false},"excerpt":{"rendered":" […]<\/p>\n","protected":false},"author":68,"featured_media":187864,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[6,20822,10494],"tags":[12805,11732,17411,17410],"acf":[],"yoast_head":"\n