Asda hires former Morrisons boss David Potts as chief executive, weeks after Allan Leighton insisted a change was 'not imminent'

David Potts CBE, widely credited with turning Morrisons around between 2015 and 2023, has taken over as Asda chief executive with immediate effect, with Allan Leighton shifting to the non-executive chairman position. Potts's retail career began at 16 when he stacked shelves at Tesco, and he went on to run its Irish, UK and Asian divisions; he now leads a business that only recently recorded its first underlying sales growth in over two years, achieved in the third quarter.

Just weeks before the appointment, Leighton told City AM that a CEO change was 'not imminent' and that he favoured an internal promotion.

Asda has been without a permanent chief executive since petrol station tycoon Mohsin Issa stepped down in September 2024, more than three years after the £6.8bn Walmart buyout.

Potts has signalled that the Christmas priority is 'keeping Asda prices locked low', a stance analysts warn could put pressure on margins at rivals Tesco and Sainsbury's.