Tesco UK chief steps down as Britain’s biggest supermarket brings in former Aldi top exec
Tesco’s UK division will bring in a senior executive from challenger grocer Aldi, following the departure of its veteran chief.
Britain’s biggest supermarket said Matthew Barnes will take over after Jason Tarry today announced his upcoming departure today, following 33 years with the company.
Tarry, who has been at the top for six years, will step down in March 2024, when Barnes will take over, after the incumbent said the decision was not easy, but it is the “right time” for him to “move on.”
Barnes has an extensive background working in senior positions at Aldi, having previously served as UK & Ireland chief executive and later co-head of Aldi Sud’s Executive Board.
He said he has always had the “highest respect” for Tesco and he has a “real sense of determination” moving forward.
Recently, Lidl has overtaken Asda to become the third largest supermarket chain in London, hitting a market share high of 9.1 per cent for the week ending 1 October.
For Tesco, revenues grew 5 per cent to £34.1bn in its latest interim results as its continued to wheel out dozens of price cuts to compete with discounters such as Aldi and Lidl amid the cost of living crisis.
The outgoing CEO said he would “continue to give my all to being UK CEO until March, and my determination that we give our customers the best Christmas is heightened knowing that this will be my last as a Tesco colleague,” he said.
Tesco Group chief executive, Ken Murphy, said he is “incredibly grateful” for Tarry’s leadership.
“Jason has made an immense contribution to our business. Under his leadership, Tesco today is the most competitive we have ever been, built on exceptionally strong foundations of doing the right thing for our customers and colleagues,” he added.