Skip to content
Search

Latest Stories

Mohsin Issa steps down from Asda

"It is a very exciting time for EG Group, and I am looking forward to focusing on the business..," he said.

Mohsin Issa typically partners on deals with his brother. (Photo: Asda)
Mohsin Issa. (Photo: Asda)

THE billionaire co-owner of Asda, Mohsin Issa, has stepped back from his role in overseeing the day-to-day operations of the UK’s third-largest supermarket chain.

This shift comes as Asda faced increasing competition and a decline in its market share. Lord Stuart Rose, the current chair of Asda, alongside Rob Hattrell from TDR Capital, the private equity firm with a majority stake in the supermarket, will assume operational control, the firm announced on Wednesday (18).


The decision by Issa to step down from managing Asda marks a strategic refocus on his petrol station enterprise, EG Group, which he co-founded with his brother, Zuber Issa, in 2001.

Zuber Issa (left) and his brother Mohsin

The brothers, who acquired Asda from Walmart in a £6.8 billion deal in 2020 alongside TDR Capital, have since worked to strengthen their hold on the supermarket while balancing their interests in EG Group.

Earlier this year, Zuber Issa stepped back from both businesses, opting to sell his Asda stake to TDR, which now holds a 67.5 per cent ownership of the chain. He is expected to formally relinquish his role as co-chief executive of EG Group by October, transitioning into a non-executive director position.

However, Mohsin will continue in his role as the sole chief executive of EG Group, while also remaining a non-executive director at Asda.

He joined Asda’s board in February 2021, following the acquisition of the supermarket by the Issa brothers and TDR Capital. He has played a pivotal role in EG Group's global expansion.

Starting from a single petrol station in Bury, Lancashire, in 2001, EG Group now operates over 6,200 sites across 10 countries. Mohsin has been instrumental in key negotiations with major brand partners and securing capital for the company.

Before founding EG Group, Mohsin held senior roles in various Issa family businesses. In recognition of his business achievements, he along with his brother was honoured in the Queen’s Birthday Honours List 2020.

Asda has struggled in the competitive grocery market, with its share dropping to 12.6 per cent in the 12 weeks leading up to September 2023, down from 13.8 per cent in the same period the previous year.

Walmart, which retains a 10 per cent stake in Asda, has faced challenges in disentangling the supermarket's IT systems from its former US parent company, leading to additional complications.

Lord Rose, in an earlier interview, expressed disappointment at Asda's recent performance and hinted that changes were necessary to reverse its fortunes.

He acknowledged that the supermarket needed fresh leadership and a new approach to revitalise the brand. Rose’s comments follow a period of internal restructuring and the ongoing search for a new chief executive at Asda.

“We respect Mohsin’s decision to move on from his role at Asda where his work is complete to be the sole CEO of EG Group,” Lord Rose said.

“We are very grateful to Mohsin for the role he has played in overseeing Asda, including launching into the growth market of convenience stores and introducing a loyalty app now used by more than six million customers. He has laid the foundations to deliver a world-class IT infrastructure, strengthening Asda for the long term. I look forward to continuing to benefit from his insight as a non-executive director on our Board.”

Mohsin Issa said: “I am very proud of the highly experienced team we have built, and the significant progress made to build a bigger and better Asda over the last three years, as well as our unwavering commitment to provide customers with uncompromising value.

“Given these achievements and the significant strategic steps we have taken, I have decided now is the right time for me to step back from my oversight role at Asda to focus on EG Group as sole chief executive. It is a very exciting time for EG Group, and I am looking forward to focusing on the business while supporting Stuart, Rob and the leadership team in my capacity as a shareholder of Asda.”

More For You

Bianca Censori posts nude poolside snap as Kanye West accuses her of trying to have him committed

Bianca’s latest post reignites speculation over her marriage to rapper Ye

Instagram/bbiancacensori

Bianca Censori posts nude poolside snap as Kanye West accuses her of trying to have him committed

Bianca Censori has returned to Instagram with a latest image, sparking fresh attention amid speculation that her marriage to rapper Kanye West may have come to an end. The Australian architect posted an image to her story showing her standing beside a pool in a sheer, water-soaked outfit. Her face was cropped out of the frame, and the post included no caption, just the image.

This post comes just days after Kanye West dropped a new album titled WW3, where one track named “Bianca” appears to confirm a rift between the pair. In the song, Kanye claims his wife tried to have him committed. He raps, “My baby, she ran away / But first she tried to get me committed.” He also references her panic attacks, his refusal to sleep, and his attempts to track her through an app.

Keep ReadingShow less
Indian Classical Music

Experience the magic of Indian Classical Music

Spellbinding Indian Music in Leicester

Music lovers in Leicester are in for a soul-stirring treat this spring. On Saturday, April 26, Avanti Fields School on Bhaktivedanta Marg, LE5 0BX, will come alive with the rich, resonant sounds of Indian classical music, as four exceptional artists—Prabhat Rao, Pulkit Sharma, Kirpal Panesar, and Siddhiie Kapshikarr—join forces for an unforgettable evening.

This special concert promises to be much more than just a performance. It is set to be a deeply immersive experience, weaving together the magic of various Indian classical traditions. Each artist brings their own unique style and mastery to the stage, representing different disciplines within the classical realm. Whether it's the delicate nuances of Hindustani vocals, the rhythmic complexity of tabla, or the meditative tones of string instruments, the audience will be treated to a tapestry of sound that resonates with tradition, emotion, and artistry.

Keep ReadingShow less
Aishwarya Rai and Abhishek Bachchan Dismiss Divorce Rumors with Anniversary Post

Aishwarya Rai Bachchan and Abhishek Bachchan mark 18 years of marriage with a heartfelt family photo

Getty Images

Aishwarya Rai and Abhishek Bachchan shuts down divorce rumours with anniversary post

On 20th April, Aishwarya Rai Bachchan quietly acknowledged her 18th wedding anniversary with Abhishek Bachchan by sharing a photo on Instagram. The image featured the couple with their daughter Aaradhya, all dressed in white and smiling for a casual selfie. Aishwarya kept the caption simple, posting only a white heart emoji.

The post caught attention not just because of the milestone it celebrated, but also because it was the first public image of the couple together in months. Rumours of a possible split had been doing the rounds, especially after their limited appearances together at recent events. However, the anniversary post and a few recent family outings seemed to push those whispers aside, at least for now.

Keep ReadingShow less
Amanda Holden

Amanda Holden fronts Cheat: Unfinished Business, Netflix’s new reality series that dives deep into love, betrayal and the fight for second chances

Instagram/noholdenback

Amanda Holden fronts new Netflix series on cheating, forgiveness and second chances

Amanda Holden is fronting a new Netflix series that puts relationships to the test in a way reality TV hasn’t quite done before. Cheat: Unfinished Business gathers eight couples at a villa in Majorca, all of them trying to pick up the pieces after cheating rocked their relationships.

This isn’t a show about swiping right or looking for love. It’s about what happens after the damage is done, and whether anything can actually be salvaged. Teaming up with relationship expert Paul C. Brunson, known for Married at First Sight UK, Holden helps guide couples through awkward conversations, emotional exercises and confrontations that go far beyond the usual reality drama. It's raw, and sometimes, painfully honest.

Keep ReadingShow less
pope-francis-getty

Cathedral staff set up an image of Pope Francis inside The Metropolitan Cathedral of the Most Precious Blood, informally known as Westminster Cathedral, in central London on April 21, 2025. (Photo: Getty Images)

Getty Images

From Sede Vacante to Habemus Papam, what happens after the pope dies

THE DEATH of Pope Francis on Monday has triggered the Catholic Church’s established process for selecting a new leader.

This includes a transition period followed by the election of a new pope by the cardinals.

Keep ReadingShow less