Tesco has announced (22) that Matthew Barnes has stepped down as UK CEO to pursue other opportunities, and will be replaced by Ashwin Prasad, Tesco Group’s current Chief Commercial Officer, effective from 30 June.
In a major shake-up, 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.
Geoff Byrne, currently Chief Operating Officer in Ireland, is promoted to Tesco Ireland & NI CEO. All Executive roles continue to report to Group CEO Ken Murphy.
Matthew’s leadership leaves a legacy of operational improvements which have simplified and strengthened the business. He has also played an important role culturally, leading with strong values as a member of Tesco's Executive team.
Prasad is currently Tesco’s Chief Commercial Officer with responsibility for the Group’s product and customer strategy. He has been a member of Tesco’s Executive team since 2020 and brings a wealth of retail and commercial experience to this role.
In recent times, Ashwin has successfully led the business through supply chain disruptions, as well as driving Tesco's trading strategy and accelerating our digital marketing transition.
Adams is currently Tesco Ireland and NI CEO where she has led the business with energy, expertise and integrity to deliver a market-leading performance. Under Natasha, the Irish business has been through a period of expansion and growth, with market share gains for 39 consecutive periods.
She is also currently responsible for Group innovation and joined Tesco’s Executive team in 2018.
Chris Griffith, Group Director of Strategy & Investor Relations, will report to Natasha as it relates to his corporate strategy responsibilities.
Tesco Group CEO, 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 & 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.”
Matthew 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 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. I would also like to thank Matthew for his support and wish him well for the future.”
Adams said, “I am excited to take up this new role, which builds on the strong progress we’re making with our growth ambitions by helping us to further scale and accelerate our long-term strategic plans and innovation pipeline.”
Byrne said, “I have spent my entire career in Tesco Ireland; I love this business, and I am so proud to now have an opportunity to lead it. I’m really excited about the opportunities ahead. I’d like to thank Natasha for her leadership … I have a hard act to follow!”
