Latest news with #AshwinPrasad
Yahoo
24-05-2025
- Business
- Yahoo
Tesco reveals executive shake-up to strengthen market leadership
British supermarket chain Tesco has unveiled executive changes to position the company for delivering continued market-leading performance. Matthew Barnes has stepped down from his position as UK CEO to explore new ventures. Ashwin Prasad, currently serving as Tesco Group's chief commercial officer, is set to take over the role from 30 June 2025. Prasad has been part of Tesco's executive team since 2020, and has helped navigate the company through recent supply chain challenges, leading the trading strategy and digital marketing advancements for the business. Natasha Adams, current CEO for Tesco Ireland and Northern Ireland (NI) , will assume a newly established position on the retailer's executive committee as chief strategy and transformation officer from 9 June. In a related move, Geoff Byrne, who holds the position of chief operating officer in Ireland, will be promoted to CEO for Tesco Ireland and NI. Byrne has extensive experience, having been with Tesco since 1989. As chief operating officer in Ireland since 2014, he has managed retail operations across all stores, distribution networks, property and the grocery/home shopping business. All executive positions will continue reporting to group CEO Ken Murphy. Ken Murphy stated: '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. "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. 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.' In January 2025, Tesco announced plans to cut 400 jobs in a strategic move to streamline its operations. "Tesco reveals executive shake-up to strengthen market leadership" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Times
22-05-2025
- Business
- Times
Tesco's Matthew Barnes to exit as Ashwin Prasad takes the helm
The chief executive of Tesco's UK business is to step down after just over a year in the role as part of a raft of leadership changes at Britain's biggest supermarket. Matthew Barnes, who joined in March last year, is to be replaced next month by Ashwin Prasad, the group's chief commercial officer. The grocer said that Barnes, 52, previously Aldi's chief executive for the UK and Ireland, was stepping down to 'pursue other opportunities'. It is not yet known if he has another role lined up. Ken Murphy, group chief executive, thanked Barnes for his 'obsession with customers' and said that Tesco had gone from 'strength to strength' under his leadership. Tesco, which holds 27.9 per cent of the grocery retail market, has remained
Telegraph
22-05-2025
- Business
- Telegraph
Tesco UK chief leaves after just a year in the job
Tesco's UK chief executive has left the supermarket after just over one year in post. Matthew Barnes, who joined Tesco as UK chief executive in March 2024, is stepping down to pursue other opportunities, the retailer said. Mr Barnes, who led Aldi in the UK from 2015 to 2018, was hired to replace Jason Tarry, who resigned in 2023 to take over the John Lewis Partnership (JLP). While leading Aldi, Mr Barnes was credited with growing its share of the UK grocery market from 4pc to around 7pc. His departure comes after a strong couple of years for Tesco, which has held its own against the growth of the German discounters – while rivals such as Asda and Morrisons have struggled to hold on to customers. The hiring of Mr Barnes by Tesco was seen at the time as an indication that the supermarket was keen to cement its fightback against the discounters. On Thursday, Mr Barnes said: 'Leading Tesco's UK business has been a privilege, and I am proud of everything we have achieved together.' Ken Murphy, Tesco's group chief executive, said Mr Barnes would leave with Tesco's 'respect and sincere thanks for his contribution'. He added: 'His obsession with customers has made a big impact and we are winning in the market by offering customers unbeatable value.' Mr Barnes will be replaced as UK chief executive by Ashwin Prasad, currently Tesco's chief commercial officer. Mr Prasad is a 15-year Tesco veteran who previously oversaw many of its critical departments. Tesco said last month it expected profits to fall by as much as 14pc this year as it invests about £400m into price cuts. Its struggling rival Asda has kicked off a supermarket price war in a bid to claw back market share from the likes of Tesco. Mr Murphy said last month there had been a 'general intensification' of competition across the supermarket sector, highlighting 'statements made in the press by one competitor' about price cuts. Mr Barnes's exit comes after a similarly high-profile departure at Asda this week. It emerged that senior executive Adrian McKeon was leaving the grocer after less then six months, dealing a blow to turnaround efforts currently under way at the Leeds-headquartered business.
Reuters
22-05-2025
- Business
- Reuters
Tesco names group's chief commercial officer as new UK CEO
May 22 (Reuters) - Tesco (TSCO.L), opens new tab, Britain's biggest supermarket group, on Thursday named its current chief commercial officer Ashwin Prasad as the new chief executive of Tesco UK, replacing Matthew Barnes.
Scottish Sun
04-05-2025
- Business
- Scottish Sun
Major supermarket to offer huge discount to veterans this week to celebrate VE Day – are you eligible?
A HUGE supermarket is offering a big discount to veterans this week to celebrate VE Day. Tesco will give veterans, serving personnel and their families 10% off their shopping between May 8 and May 11 to celebrate the 80th anniversary of VE Day. 1 Tesco is offering veterans a discount to celebrate VE Day Credit: Getty The discount will celebrate Victory in Europe Day, which takes place on May 8 and marks the Allied forces victory in Europe. It celebrates the millions of people across the UK and Commonwealth who served in the Second World War and those who supported the war effort at home. To be eligible you must have a Defence Discount Service card with you while shopping. This is a free card that you can apply for online. To qualify for it you must be: Serving Armed Forces Reserve Forces Spouses/Partners of serving personnel HM Armed Forces Veterans (ex serving) MoD Civil Servants Bereaved Family Members War/Service Widow(er)s Cadet Forces (over 16) NATO Personnel in the UK You must bring the card with you when shopping to receive the discount. The supermarket will also accept Defence Privilege cards, Armed Forces Personnel ID cards (MOD90) and Veteran cards as forms of proof of discount. You cannot use the deal to buy carrier bags, tobacco, lottery tickets, stamps, prescription medicines, infant formula and gift cards. It also does not apply to Tesco Mobile purchases or Grocery home shopping online. Are you being duped at the supermarket? You also cannot use it on petrol purchases or at Esso sites without a Tesco Express shop. Ashwin Prasad, Tesco Chief Commercial Officer said: 'The 80th anniversary of VE Day is an important time for us to acknowledge all those who served in the Second World War. 'The Armed Forces make incredible sacrifices to keep us safe, and we hope this discount will help them celebrate such an important occasion with their families.' What other discounts can veterans get? Veterans can get discounted travel in London through the Veterans Concessionary Travel Scheme. You can apply for the support if you are: A veteran getting financial help under the War Pensions Scheme A veteran getting regular financial help under the Armed Forces Compensation Scheme War widows and widowers and getting financial help from the War Pensions or Armed Forces Compensation Schemes Through the scheme you will be issued with an Oyster photocard. You can use it to travel free at any time within London on the bus, underground, Docklands Light Railway (DLR), tram and London Overground. For more information about the scheme call Transport for London on 0845 331 9872. You may also be eligible for a Blue Badge if you are a disabled veteran or a member of the armed forces. If you are currently in the armed forces and are no longer a UK resident then you or a member of your household can apply to the Ministry of Defence for a blue badge. If you have kept your UK residency then you should apply to your local authority. People serving in the armed forces, their spouses and civil partners and dependent children can buy the HM Forces Railcard. This gives you ⅓ off most rail fares throughout the UK for a year. You are eligible for a railcard if you get an armed forces pension and either: You are a person who is a war widow or widower You are a dependant of a person who was a war widow or widower You can check how much Forces railcards cost and the savings you can make with them on the HM Forces website. If you are war widowed you can apply for a railcard through the Royal British Legion. Do you have a money problem that needs sorting? Get in touch by emailing money-sm@ Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
