Asda names David Potts as group chief executive

Asda appointed David Potts CBE as group chief executive with immediate effect. Allan Leighton transitioned to the role of non-executive group chairman as previously planned.

Leighton said the company stabilized operations and returned to growth over the past two years. He said the retailer began establishing itself as "more than a supermarket" through its Formula for Growth strategy.

Potts said Asda has made progress but significant opportunities remain. He said providing value to families across the UK has always been part of the company’s identity.

The new chief executive said the business will focus on making improvements to the shopping experience that customers can notice. Asda employs 116,296 workers.

Potts said the company has a clear focus on keeping prices low during the Christmas period.