Asda has announced that Mohsin Issa is stepping back from his executive leadership role to focus on his previously announced role as sole CEO of EG Group.
Stuart Rose (pictured) will assume Mohsin’s executive responsibilities alongside Rob Hattrell and Asda’s leadership team. Hattrell is currently a Partner at TDR Capital, as well as a Director on the Asda Board. Mohsin remains a co-owner of Asda and non-executive on the Board.
Lord Rose, Chairman of Asda, said: “We respect Mohsin’s decision to move on from his role at Asda where his work is complete, to be the sole CEO of EG Group. We are very grateful to Mohsin for the role he has played in overseeing Asda, including launching into the growth market of convenience stores and introducing a loyalty app now used by more than six million customers.
“He has laid the foundations to deliver a world-class IT infrastructure, strengthening Asda for the long term. I look forward to continuing to benefit from his insight as a non-executive director on our Board.”
Asda continues to progress its search to recruit a CEO to lead the business in the next phase of its strategy. The shareholder group have invested £3.8bn over the last three years to build a bigger and better Asda for the long term.
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