Matthew Barnes has stepped down as chief executive of Tesco UK after just over a year in the role, as he moves on to explore new opportunities.
Barnes, who joined Tesco in March 2024, will be succeeded by current chief commercial officer Ashwin Prasad, with the transition set to take effect on 30 June.
Tesco stated that Barnes 'leaves behind a legacy of operational improvements that have streamlined and reinforced our business.'
Natasha Adams, currently CEO of Tesco Ireland and Northern Ireland, will assume the newly created role of chief strategy and transformation officer from 9 June, replacing Ashwin Prasad in his current position. Meanwhile, Geoff Byrne, the current chief operating officer in Ireland, will step into Adams’ role.
Ken Murphy, Tesco group chief executive, 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.
“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.'