Asda appoints former Morrisons boss David Potts as chief executive to turn round sales

A new chief executive for Asda

Asda has named David Potts, the former head of rival Morrisons, as its chief executive. Potts, 69, joined the Leeds-based grocer with immediate effect on Tuesday, 3 November 2026, taking over from Allan Leighton, who becomes non-executive chair after almost two years leading the business. Potts has promised to revitalise a supermarket that has lost ground to larger rivals for several years. The appointment is the latest attempt to strengthen Asda's fortunes, which have been under pressure since the business was taken private.

Ownership, debt and a long squeeze

Asda came under the control of private equity firm TDR Capital and the billionaire Issa brothers through a £6.8bn deal agreed in 2020. Walmart had owned the chain before that, after buying it for £6.7bn in 1999. The group has carried a heavy debt burden since its leveraged buyout. A botched separation of its IT systems from Walmart disrupted product availability and delayed the turnaround. Asda and Morrisons, headquartered 12 miles apart in northern England, have long competed for value-conscious shoppers. Asda has also ceded market share to Tesco, Sainsbury's, Aldi and Lidl.

Trading figures show a fragile recovery

Like-for-like sales excluding fuel rose 0.2% in the seven weeks to 18 August, the first growth in more than two years, according to the company. The recovery remains fragile. Sales fell 0.5% in the 12 weeks to 4 October, and market share slipped to 11.5% from 11.8% a year earlier, according to Worldpanel by Numerator data.

A year earlier11.8%

Latest reading11.5%

A year earlier

11.8 %

Latest reading

11.5 %

Data from the article text

Leighton's return and the search for a successor

Leighton returned to Asda as executive chair in November 2024, after having helped turn the retailer around in the 1990s. Since coming back, he has invested heavily in price cuts while working to improve product availability, store standards and the shopping experience. He has said Asda stabilised under his leadership. Asda had searched intermittently for a chief executive after Roger Burnley left in 2021, and Mohsin Issa led the business from August 2021 to September 2024. Earlier this year, Leighton suggested the role could be filled internally after a series of senior appointments.