Surprising Resignation: Mohsin Issa Leaves Leadership at Asda

The well-known gas station entrepreneur Mohsin Issa has unexpectedly withdrawn from his leadership role at Asda, the struggling British supermarket. Issa had acquired Asda together with his brother and the private equity firm TDR Capital three years ago. This move follows TDR Capital’s acquisition of the 22.5% stake in Asda from Zuber Issa, Mohsin's brother, in June. Thus, the private equity firm gained majority control over one of the largest food chains in the United Kingdom. This transaction finalized the division of the Issa brothers' retail empire and simultaneously ushered in a new era for Asda. The first report on this development was from Bloomberg News.