Tesco has announced that Matthew Barnes has stepped down from his role as UK CEO to “pursue other opportunities”. He will be replaced by Ashwin Prasad, the supermarket group’s current Chief Commercial Officer, effective from 30 June.
Meanwhile, Natasha Adams, currently Tesco Ireland & NI CEO, has been appointed to a newly created role on the Executive Committee as Chief Strategy & Transformation Officer, effective from 9 June. And Geoff Byrne, currently Chief Operating Officer in Ireland, is promoted to the CEO role for Ireland & NI.
Barnes, a former CEO of Aldi UK & Ireland, joined Tesco in March 2024 to replace Jason Tarry, who is now Chairman of the John Lewis Partnership.
A statement from Tesco said: “During Matthew’s leadership, our UK business has performed extremely well. His focus on our customers has helped us build momentum and deliver significant growth and strong customer satisfaction. He leaves a legacy of operational improvements which have simplified and strengthened our business. He has also played an important role culturally, leading with strong values as a member of our Executive team.”
Tesco Group CEO, Ken Murphy, commented: “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.
Last week, Ashwin Prasad told delegates at the Tesco Business Update event hosted by IGD that the retailer was aiming for a market share of 30%, with the business focused on capitalising on its appeal to brands as the retailer most likely to bring about growth.
Murphy added: “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 & 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.”
Prasad commented: “I pick up the reins of a business with strong momentum, a winning strategy and a talented team. I am privileged to be appointed UK CEO, and my priority will be to continue offering our customers an unbeatable experience, every time they shop with Tesco. I would also like to thank Matthew for his support and wish him well for the future.”
NAM Implications:
- Tesco is aiming for a market share of 30%…
- …with the business focused on capitalising on its appeal to brands…
- …as the retailer most likely to bring about growth.
- A full-on ride, for suppliers that are willing to climb aboard…
