EG Group executive Mohsin Issa has insisted there is no rift with his brother Zuber, claiming in a rare interview with the BBC that they “get on exceptionally well”.
He told the BBC during a store opening: “We talk to each other probably two or three times a day. We’ve been very, very privileged. We have been on a journey and we have got a long way still to go.”
In the interview he confirmed he was seeking an experienced retail chief executive to run Asda, but also said the heavy borrowings were manageable and pushed back at suggestions that the petrol stations to retail business he founded in Blackburn in 2001 with his brother was in good shape.
“Even if our interest payments were to double Asda has more than sufficient headroom to service that,” he said. “It is challenging. If you get up and if you’re not challenged then I suppose you shouldn’t be doing your job.
“We’re in a transition period where we’re evolving, but also we’re investing significantly. Market share will fluctuate over a period of time. “We feel we’re doing the long term investment that will help us regain some of that market.”
Full story Issa brother speaks out - we're not splitting up | TheBusinessDesk.com
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