Asda’s new CEO inherits a £989m loss and falling share

David Potts takes over as Asda CEO after the grocer lost £989 million before tax in 2025 and slipped to 11.5% market share. His Morrisons experience gives him a credible operating brief, but Asda’s challenge is the combination of weak sales, heavy financing costs and price competition. Allan Leighton remains chairman, shifting day-to-day responsibility to Potts while keeping the turnaround’s sponsor in the room. The first proof point is sustained sales growth, not another short-lived improvement.