Tesco appoints new UK CEO as Matthew Barnes exits

Tesco has appointed Ashwin Prasad as its new UK CEO, replacing Matthew Barnes, who has stepped down after just over one year in the role to "pursue other opportunities".

During his tenure, Barnes' focus on customer needs has contributed to building momentum at the supermarket chain, driving significant growth, and improving customer satisfaction.

He will be succeeded by Prasad, currently Tesco’s Chief Commercial Officer, responsible for the group’s product and customer strategy. Prasad will assume the role on 30 June.

A member of Tesco’s Executive Team since 2020, Prasad brings extensive retail and commercial experience to the position.

In his recent work, he has effectively guided the business through supply chain disruptions, led the development of its trading strategy, and accelerated the transition to digital marketing.

Ashwin Prasad, newly appointed CEO of Tesco, said: "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."

The new appointment comes amid a wider restructuring of Tesco’s leadership team. As part of these changes, Natasha Adams, currently CEO of Tesco Ireland and Northern Ireland, has been appointed to the newly created role of Chief Strategy & Transformation Officer on the Executive Committee.

Meanwhile, Geoff Byrne, currently Chief Operating Officer in Ireland, has been promoted to Tesco Ireland & NI CEO.

Ken Murphy, CEO of Tesco Group, 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 and delivering more personalised customer engagement, through new growth avenues such as marketplace, and by further developing leading capabilities such as retail media."