Stuart Rose could become Asda chairman - report
The former boss of M&S and Arcadia could become chairman of Asda under its new owners with Stuart Rose — now Lord Rose of Monewden — reportedly having been lined up for the role.
The company is hunting for a new chief executive following the exit of Roger Burnley this month and Rose would bring major experience to the chairman's role, particularly when it comes to selling products in addition to the core groceries on which Asda relies.
Asda is also a major seller of fashion and home items and Rose’s experience at M&S and Arcadia would be important here.
The Times reported that the Issa brothers who now own Asda have lined him up for the chairman's role as he is already chairman of EG Group, the petrol station business they own.
A senior source told the newspaper that it was a “safe bet that Rose’s appointment happens soon”, although another said that there was a chance it may not happen.
The newspaper said he could be brought in quickly on an interim basis until the arrival of a new chief executive. Former CEO Roger Burnley had been expected to leave next year but his surprise exit came rather more quickly and left Asda without a senior executive at the helm at a crucial time for the business.
The report also suggested that there’s less interest among likely candidates for the Asda CEO’s role because of concern about how the Issa brothers want to run the business, potentially leaving any new chief executive with less control than they’d want.
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