Mohsin Issa, co-owner of Asda, steps back from his executive role to focus on his position as CEO of EG Group.
- Chair Lord Rose and Rob Hattrell, ex-eBay and Tesco executive, will take charge of Asda’s operations.
- Issa remains a co-owner and will continue as a non-executive director on the board of Asda.
- Under Issa’s leadership, Asda expanded into convenience stores and launched a popular loyalty app.
- Asda is in search of a new CEO to lead its next strategic phase.
Mohsin Issa, a key figure in Asda’s leadership, has decided to step back from his executive role to concentrate on his responsibilities as the CEO of EG Group. The transition will see Chair Lord Rose and TDR partner Rob Hattrell steer the supermarket giant. Hattrell, known for his tenure at eBay in Europe and Tesco, brings a wealth of retail experience to his new role.
While Issa cedes day-to-day management, he retains his stake in Asda and holds a position as a non-executive director on the board. This strategic decision signifies his ongoing influence and commitment to the retailer’s success. Lord Rose emphasised the respect for Issa’s decision, acknowledging his accomplishments which include spearheading Asda’s foray into convenience stores and deploying an app that now engages over six million users.
Issa expressed pride over the skilful team assembled under his leadership and the substantial progress in transforming Asda into a more competitive entity. His strategic initiatives have been pivotal, providing uncompromising value to customers, fortifying Asda’s IT infrastructure, and setting the groundwork for future growth.
With the leadership transition, Asda is poised to appoint a new CEO, marking a significant juncture in its strategic roadmap. The company has assured stakeholders that updates regarding this search will be communicated in due course. Meanwhile, Issa will focus his efforts on his dynamic role at EG Group, looking forward to its business prospects while maintaining his interest in Asda’s trajectory.
Mohsin Issa’s transition marks a new era for Asda, poised for continued growth under new leadership.
