Tesco UK CEO Matthew Barnes has stepped down after just over a year, as the top team gets a shake-up.
The supermarket said former Aldi boss Barnes, who joined in March last year, was leaving to “pursue other opportunities”.
He will be replaced by Ashwin Prasad, Tesco Group’s chief commercial officer, from 30 June.
Meanwhile, Natasha Adams, Tesco Ireland & NI CEO, has been appointed to a newly created role on the executive committee as chief strategy and transformation officer, effective from 9 June. Geoff Byrne, currently chief operating officer in Ireland, has been promoted to Tesco Ireland & NI CEO. All executive roles continue to report to group CEO Ken Murphy.
Tesco said during Barnes’ leadership its UK business built momentum, delivered significant growth and improved customer satisfaction.
It said he left a legacy of operational improvements which had “simplified and strengthened our business”.
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.”
Tesco exec changes
Murphy continued: “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 and 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.”
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.”
Prasad added: “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.”
Prasad told the Tesco IGD event earlier this month he was determined to capture more than 30% of the UK grocery market for the first time in 12 years.
No comments yet