Asda co-owner Mohsin Issa steps back as hunt for CEO continues

Asda has revealed that co-owner Mohsin Issa is to step down from his executive role at the supermarket and will hand over the reins to chairman Lord Stuart Rose and the management team. Asda said Mr Issa will this week leave his executive role to concentrate on his recently announced move to become sole chief executive of the petrol station forecourts business, EG Group. Mr Issa will remain co-owner of the chain, alongside private equity backer TDR Capital, and a non-executive on the board.

Asda said it will continue its hunt for a chief executive to lead the firm and will update “in due course”. Lord Rose will take on Mr Issa’s executive responsibilities at Asda, alongside TDR partner Rob Hattrell and the supermarket’s existing management team. Mr Issa said: “I have decided now is the right time for me to step back from my oversight role at Asda to focus on EG Group as sole chief executive.



“It is a very exciting time for EG Group, and I am looking forward to focusing on the business while supporting Stuart, Rob and the leadership team in my capacity as a shareholder of Asda.” Lord Rose said: “We respect Mohsin’s decision to move on from his role at Asda where his work is complete to be the sole chief executive of EG Group. “We are very grateful to Mohsin for the role he has played in overseeing Asda.

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