Tesco has today announced that UK chief executive Matthew Barnes has stepped down from his role to “pursue other opportunities”.
Barnes will be replaced by Tesco’s current chief commercial officer Ashwin Prasad from June 30.
The supermarket giant has also created the new role of chief strategy and transformation officer, which will be taken up by Natasha Adams, who is currently Tesco Ireland and Northern Ireland boss.
Tesco said during Barnes’ tenure, its UK business “performed extremely well” and his “focus on our customers has helped us build momentum and to deliver significant growth and strong customer satisfaction”.
Barnes joined the retailer in March 2024 and was previously UK and Ireland boss of discounter Aldi.
Prasad has been a member of Tesco’s executive team since 2020 and “brings a wealth of retail and commercial experience to this role”. Tesco said he has “successfully led the business through supply chain disruptions, as well as driving our trading strategy and accelerating our digital marketing transition”.
Tesco chief executive Ken 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, to this role.”
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. 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.”
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