Tesco UK has announced the departure of Chief Executive Matthew Barnes after just one year in the role. Barnes, who joined in March 2024 from Aldi UK, will be replaced by Ashwin Prasad, Tesco’s Chief Product Officer.
Why Did Tesco’s UK CEO Step Down?
Barnes, previously Aldi UK and Ireland CEO, cited a desire to “pursue other opportunities” as the reason for his departure. In a statement, he said:
“Leading Tesco’s UK business has been a privilege, and I am proud of everything we have achieved. Our colleagues are the best in the industry, and I wish Ashwin the very best in his new role.”
During his tenure, Tesco maintained its position as the UK’s largest supermarket, focusing on customer value and operational efficiency.
Who is Ashwin Prasad, the New Tesco UK CEO?
Prasad, a Tesco veteran since 2020, has been instrumental in:
✔ Navigating supply chain disruptions
✔ Driving trading strategy
✔ Speeding up Tesco’s digital marketing transformation
His promotion reflects Tesco’s commitment to internal leadership development.
Tesco’s Leadership Restructure: Key Changes
In addition to Prasad’s appointment, Tesco announced:
Natasha Adams (current Tesco Ireland & NI CEO) will become Chief Strategy & Transformation Officer from 9 June 2024.
Geoff Byrne (Chief Operating Officer, Ireland) will take over Adams’ former role, overseeing retail operations, distribution, and property.
All executives will continue reporting to Tesco Group CEO Ken Murphy, who praised Barnes’ contributions:
“Matthew leaves with our respect and thanks. Under his leadership, we’ve strengthened our business by delivering unbeatable value. Ashwin’s customer-first approach makes him the ideal successor.”
What’s Next for Tesco UK?
Murphy emphasized Tesco’s strategic priorities:
🔹 Enhancing digital & personalized customer engagement
🔹 Expanding Tesco’s marketplace & retail media capabilities
🔹 Maintaining market leadership in UK grocery
With Prasad at the helm, Tesco aims to accelerate growth while staying competitive against Aldi, Lidl, and Sainsbury’s.
Final Thoughts
Barnes’ exit marks a significant leadership shift, but Tesco’s focus remains on innovation, digital transformation, and customer value. Will Prasad steer Tesco to even greater success? Only time will tell.
Stay updated on the latest Tesco news and UK retail developments.
