The new chairman of Asda, the retail grandee Lord Stuart Rose, has said that the appointment of a chief executive is a “priority” for the board.
It was eight months ago that the UK’s third-largest supermarket chain confirmed that Roger Burnley planned to retire but would stay on until 2022 to aid the transition to a successor.
That announcement was made following the £6.8bn takeover of Asda by private equity firm TDR Capital and brothers Mohsin and Zuber Issa – the owners of convenience store and petrol station operator EG Group.
Lord Rose, the former Marks & Spencer and Ocado chairman, made his remarks as Asda confirmed a story by Sky News that he and Dame Alison Carnwath were to bolster its board.
Dame Alison, the former Land Securities chair, would be a non-executive director with both appointments taking effect from 1 December.
Lord Rose currently chairs EG Group.
He said of the job ahead at Asda: “I am delighted to be appointed chair of Asda, one of the biggest and best retail businesses in Britain.
“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 added: “The process to appoint a new chief executive officer for Asda, who has the vision to take this great business forward over the coming years, is a priority for the board and we will be supporting the shareholders in this process.”