The former Marks & Spencer chairman and Land Securities chairs have been announced as new appointments to Asda’s board of directors.
Asda said Lord Rose (formerly of Marks & Spencer) has been appointed chairman of the retailer while Dame Alison Carnwath (formerly of Vitec and Land Sec) will join as a non-executive director.
The pair are both directors of EG Group, whose founders – the billionaire Issa brothers – own Asda alongside TDR Capital.
There has been speculation of a full merge between EG and the supermarket.
Mohsin and Zuber Issa said the duo had “already provided invaluable support and wisdom to the board of EG Group,” and their insight would “add huge value at Asda too.”
“We are committed to ensuring this iconic business has the right governance and management framework in place to set it up for long-term success,” the brothers added.
“The appointment of Lord Rose and Dame Alison mark an important step forward in this ongoing process and we plan to appoint further independent non-executive directors in due course.”