Former chairman of M&S Stuart Rose may be next chair at Asda

25 Aug '21

1 min read

Pic: Eddie Jordan Photos / Shutterstock.com

Lord Stuart Rose, the former chairman of Marks & Spencer (M&S) might be the new chairperson of British supermarket chain Asda, which was recently acquired by the Issa Brothers and TDR Capital. Rose currently serves as the chair at EG Group, the petrol forecourt empire of the Issa Brothers. Retail veteran Ian McLeod may also return to Asda.

McLeod might take up the position of the chief executive at the supermarket chain, which was held by Roger Burnley who left the company earlier this month, according to British media reports. Burnley had stepped down following the completion of a transition period under the new ownership.

Reports also suggest that the new owners of Asda are reshaping its board, which may lead to Rose becoming the new chairman of the company.

The Issa brothers—Mohsin Issa and Zuber Issa, co-chief executive officers of the EG Group, a UK-based global convenience and forecourts retailer, and investment funds managed by TDR Capital, a leading UK-based private equity firm, completed the acquisition of Asda for an enterprise value of £6.8 billion in February this year.

Fibre2Fashion News Desk (KD)

More ASDA News... More Retail News - United Kingdom...