Tesco UK chief executive steps down after one year in the role
Tesco has announced that its UK chief executive Matthew Barnes has stepped down to pursue other opportunities.
Barnes took up his role in March 2024 when he succeeded Jason Tarry. He previously worked with Aldi as UK and Ireland chief executive before being promoted to co-head of Aldi Sud’s executive board.
Prasad has been a member of the supermarket’s executive team since 2020 and has been credited with leading the business through supply chain disruptions, driving trading strategy, accelerating digital marketing transition.
Barnes said: “I have decided to step down to pursue other opportunities. Leading Tesco’s UK business has been a privilege, and I am proud of everything we have achieved together.
Never Miss a Retail Update!“I believe our colleagues are the best in the industry, and I would like to thank everyone for their support. I would also like to wish Ashwin the very best in his new role.”
Meanwhile, Natasha Adams, currently Tesco Ireland and NI chief executive, has been appointed to the newly created role of chief strategy and transformation officer, effective from 9 June. Having joined the business in 2018, she is also currently responsible for group innovation.
Her promotion will result in Geoff Byrne, chief operating officer in Ireland, being moved up to her current position with responsibility for the retail operations of all stores, the distribution network, property, and Tesco’s GHS business.
All executive roles will continue to report to Tesco group chief executive Ken Murphy.
Murphy said: “We are winning in the intensely competitive markets we serve and making strong progress delivering our strategic ambitions. The changes to our executive team, which draw on strong internal talent, will set us up to continue delivering a market-leading performance.
“Matthew leaves with our respect and sincere thanks for his contribution. Under his leadership, our business has gone from strength to strength. His obsession with customers has made a big impact and we are winning in the market by offering customers unbeatable value. We wish him the very best in his next chapter.
“Ashwin is an exceptional leader with a strong track record for delivering for our customers. His experience leading our product and customer strategy makes him the ideal person to take over as UK CEO.
“Our strategy focuses on being brilliant at the basics whilst stepping forward on big strategic initiatives – by becoming increasingly digital & delivering more personalised customer engagement, through new growth avenues such as marketplace, and by further developing leading capabilities such as retail media.
“We are pleased to be making strong progress against our growth ambitions, and the newly created role of chief strategy and transformation officer will set us up even better to continue winning in the future. I am delighted to appoint Natasha, one of our most experienced and capable leaders, into this role.”
