Asda Appoints David Potts CBE as Group CEO

Asda is pleased to announce that David Potts CBE has been appointed Group CEO with immediate effect. In turn, Allan Leighton becomes Non-Executive Group Chairman as planned.

Allan Leighton, Group Chairman said: “I am really excited to have appointed David as Group CEO. Over the last two years, we have stabilised the business and returned it to some growth and begun to establish Asda as ‘more than a supermarket’ through our Formula for Growth strategy. 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.”

David Potts, Group Chief Executive Officer said: “Asda has long been a great business, one I’ve admired and traded against over many years. The colleagues are remarkable, some of the most passionate I’ve met.

“The business has made good progress but significant opportunities remain and I’m delighted and very proud to have been asked by Allan to lead the team.

“Providing value to families across the UK has always been in Asda’s DNA and 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.

“Christmas is upon us and the business has a clear focus on keeping Asda prices locked low at this important time for our customers. I’m excited to get started.”

Insight DIY Perspective

While much of the attention surrounding David Potts's appointment will inevitably focus on his ability to revive Asda's grocery fortunes, there is another side to this story that should interest the wider home improvement and garden sector. Asda is a considerably bigger general merchandise player than its supermarket label might suggest, with George already an established force in clothing and a substantial opportunity to develop its homewares proposition. Indeed, Allan Leighton has previously highlighted the scale of Asda's non-food business as one of its key competitive advantages, arguing that its breadth of offer gives it something the discounters cannot easily replicate. Potts now has the challenge of turning that potential into a stronger commercial proposition, while simultaneously tackling the operational and financial pressures facing the group. His Morrisons experience is particularly interesting here: he understands the importance of retail fundamentals, ranging, availability, value and giving customers a reason to visit.

For DIY and home improvement suppliers, the question is whether his arrival will bring renewed focus and investment to Asda's wider home and garden offer, or whether those ambitions will take a back seat while the grocery business is stabilised. Either way, this is an appointment worth watching beyond the supermarket sector.

Source : Asda

Image : Asda

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