Matthew Barnes will step down from his position on June 30, 2025, with Ashwin Prasad, currently the Tesco Group Chief Commercial Officer, confirmed as his successor.
Barnes’s decision comes after just over a year in this role. Tesco highlights his legacy as one characterized by “operational improvements which have simplified and strengthened” the business.
Prasad, who has been part of the Tesco executive team since 2020, has been instrumental in shaping the group’s product and customer strategy in his capacity as CCO.
In addition, Tesco has announced that Natasha Adams, the current CEO of Tesco Ireland & NI, has been appointed to the newly established role of Chief Strategy and Transformation Officer. This change will take effect on June 9, with Geoff Byrne, the current Chief Operating Officer in Ireland, succeeding her as CEO for Tesco Ireland & NI.
All appointees in this announcement will report directly to Tesco Group CEO Ken Murphy. Reflecting on Barnes’s departure, Murphy stated: “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.”
Murphy also provided insights about the new appointments across the group. He emphasized, “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. 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 described his leadership experience at Tesco as a privilege and noted his decision to “pursue other opportunities.”
In the meantime, Prasad expressed enthusiasm about leading a business with significant momentum: “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.”
According to recent Kantar data, Tesco remains the UK’s largest grocer, boasting a market share exceeding 27%.
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