Stuart Rose to lead Asda as Mohsin Issa steps back
Asda is still looking to recruit a CEO to lead the business in the next phase of its strategy
Asda has announced that Mohsin Issa is set to step down from his executive responsibilities at the supermarket to focus on his previously-announced role as sole CEO of EG Group.
Chair Stuart Rose will assume his responsibilities alongside Rob Hattrell, a partner at TDR Capital and a director on the Asda board.
Issa will remain a co-owner of Asda and non-executive on the board.
Rose said: “We respect Mohsin’s decision to move on from his role at Asda where his work is complete to be the sole CEO of EG Group. We are very grateful to Mohsin for the role he has played in overseeing Asda, including launching into the growth market of convenience stores and introducing a loyalty app now used by more than six million customers.
“He has laid the foundations to deliver a world-class IT infrastructure, strengthening Asda for the long term. I look forward to continuing to benefit from his insight as a non-executive director on our board.”
Mohsin Issa, co-owner of Asda, added: “I am very proud of the highly experienced team we have built, and the significant progress made to build a bigger and better Asda over the last three years, as well as our unwavering commitment to provide customers with uncompromising value.
“It is a very exciting time for EG Group, and I am looking forward to focusing on the business while supporting Stuart, Rob and the leadership team in my capacity as a shareholder of Asda.”
Asda is still looking to recruit a CEO to lead the business in the next phase of its strategy.
In the last three years, the shareholder group has invested £3.8bn to grow Asda’s store footprint from 623 to 1,200 stores and food-to-go sites via organic growth and strategic acquisitions.
