Asda flies in Morrisons and M&S execs as turnaround plan gathers pace
Asda has added two new members to its leadership team as it looks to bolster the firm amid a significant turnaround plan.
Laura Lepley will join in December from Morrisons as vice president of central operations, while Mark Henry will join in January from M&S as vice president of retail in the south of England.
Both Lepley and Henry will report to Asda’s new chief operations officer Matt Heslop, who joined the business in January.
Lord Rose, Asda chairman, said: “We are very pleased to welcome Lauren and Mark to Asda. They both bring a wealth of retail experience and proven track records in delivering operational excellence. This will be invaluable as we strengthen our business and deliver our long-term growth ambitions.”
The appointments add to two other executives hires from Iceland, Andrew Staniland and David Devaney, who will join as VPs next year.
Asda’s move to strengthen its executive team comes amid a well-publicised turnaround, which will see the grocer tackle issues around staff strikes and customer experience.
“We also know that there are some areas where we can and need to improve,” chief financial officer Michael Gleeson told Morning Wire earlier this year. “We’re focusing on availability. We’re focusing on customer perception, and we’re focusing on our trade plan.”
Asda’s share of the grocery market has continued to drop, according to Kantar, with sales down by 5.6 per cent year on year. Its share of the market fell to 12.6 per cent in the 12 weeks to 1 September, down from 13.8 per cent.
Asda has invested £30m in its staff – which will increase the number of staff on checkouts and improve cleaning at stores – as well as £50m in a store upgrade programme.
The grocer is also in search of a new CEO. The position has been vacant since 2021, with co-owner Mohsin Issa first occupying the position, and latterly Chair Stuart Rose alongside TDR capital executive Rob Hattrell.
The grocer will continue its three-year search for a chief executive “to lead the business in the next phase of its strategy” and said it will update the market “in due course”, it has said.