Mohsin Issa will relinquish responsibility amid faltering performance, with former M&S boss Stuart Rose stepping in

Supermarket giant Asda has announced that Mohsin Issa will step away from his executive leadership role to focus on his position as sole chief executive of petrol forecourts business, EG Group. Lord Stuart Rose will assume Mohsin’s responsibilities alongside TDR Capital partner Rob Hattrell,

Petrol station entrepreneur Mohsin Issa has stepped aside from his executive role at Asda, the struggling British supermarket that he bought alongside his brother and private equity firm TDR Capital three years ago.

Asda has announced a significant leadership change as co-owner Mohsin Issa steps back from his executive role to focus on his previously announced position as sole CEO of EG Group. This decision marks a shift in the leadership structure of the UK's third-largest supermarket chain.

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. Asda said Mr Issa will this week leave his executive role to concentrate on his recently announced move to become sole chief executive of the petrol station forecourts business,

Asda's co-owner is stepping back from a key role at the business, just months after his brother sold his stake in the supermarket chain.