Asda co-owner Mohsin Issa to step back from running supermarket

Billionaire businessman to become non-executive chairman

Mohsin Issa will step back from his day-to-day role running Asda to become the supermarket's non-executive chairman.

The move will see him hand over the reins to Roger Burnley, who will become the new chief executive officer.

Issa, who co-owns Asda with Zuber Issa, said he will focus on "strategic initiatives" in his new role.

"I am very proud of what we have achieved at Asda over the past few years," he said.

"We have transformed the business, making it a stronger and more competitive retailer."

"I am confident that Roger will continue to build on this success and lead Asda to even greater heights."

Burnley, who has been with Asda for over 20 years, said he is "honored" to be taking on the role of CEO.

"I am passionate about Asda and its customers," he said.

"I am committed to continuing to build on the strong foundations that have been laid and taking the business to the next level."

The move comes as Asda faces increasing competition from the likes of Tesco, Sainsbury's and Aldi.

However, the supermarket has been performing well in recent months, with sales growing ahead of the market.

In the year to January 2, 2023, Asda's sales rose by 2.9%, compared to 1.3% for the grocery market as a whole.

The supermarket has also been investing heavily in its online and convenience operations.

In the past year, it has launched a new online shopping platform and opened a number of new convenience stores.

Asda is the third largest supermarket in the UK, with a market share of around 15%.