It comes as the debt-laden supermarket continues its hunt for a chief executive to lead the EG Group
Asda co-owner Mohsin Issa has confirmed he will step down from running the supermarket and will hand over the reins to chairman Lord Stuart Rose and the management team.
Lord Rose said: “We respect Mohsin’s decision to move on from his role at Asda where his work is complete to be the sole chief executive of EG Group. We are very grateful to Mohsin for the role he has played in overseeing Asda.” Zuber will keep his shareholding in EG Group and continue as a non-executive director, while his brother Mohsin will become sole CEO once the deal completes by the end of the year. Walmart still has a 10% holding in the supermarket group, while TDR Capital owns a 67.5% stake and Mr Issa the remaining 22.5%.
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