Latest news with #MatthewBarnes
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.
Daily Mirror
20-05-2025
- Business
- Daily Mirror
Major UK supermarkets launch new payment option for checkout customers
The 'Let's make a meal of it' campaign will run in Waitrose and Morrisons online - and in Tesco and Sainsbury's online and in stores. Here's how it will work Four of the UK's leading supermarkets are teaming up for a unique campaign, offering customers a new way to pay it forward at the checkout. Tesco, Sainsbury's, Morrisons and Waitrose are giving shoppers the opportunity to round-up their bill to support the 'Let's make a meal of it' initiative over the next fortnight. The charitable drive will be available online at Waitrose and Morrisons, and both online and in-store at Tesco and Sainsbury's. This innovative scheme is set to combat hunger, with shocking statistics revealing that one in seven Brits struggle with food insecurity. All contributions made at the tills will go directly to FareShare, the nation's foremost organisation dedicated to redistributing food, where every pound donated can provide five meals to those in need. The funds raised will help serve hot meals to children at youth clubs during school breaks and offer communal dining experiences for individuals battling isolation. Launching yesterday, May 19, the campaign will be active across the participating supermarkets for a period ranging from one to two weeks, reports the Manchester Evening News. This collaborative effort follows His Majesty's call to action on his 75th birthday, urging the food sector to bridge the gap between surplus food and hunger. Sainsbury's CEO and IGD President Simon Roberts said: "At Sainsbury's we believe everyone should have access to good food." Industry giants have come together in an unprecedented alliance to help fight food poverty across the UK, with major supermarkets like Tesco and Morrisons leading the charge. Matthew Barnes, UK CEO of Tesco, said: "We are excited to support the Let's make a meal of it campaign and strengthen our partnership with FareShare." He continued: "Collaboration is key to addressing food insecurity, and we are happy to partner on this with the other retailers." Rami Baitiéh, CEO of Morrisons, said: "As a food retailer and manufacturer, we are committed to tackling food waste from field to fork." Further to his commitment, Baitiéh added: "We want to help eradicate food poverty and are delighted to play our part in this industry initiative to redistribute surplus food to people in need." The advocacy has led to the formation of the Alliance Food Sourcing coalition, aiming to synergise efforts between various sectors such as supermarkets, suppliers, logistics providers, and charities devoted to reducing food waste. The move comes after studies revealed a staggering 4.6 million tonnes of edible food is thrown away annually within the supply chain. The Alliance aims to salvage food slated for disposal, transforming potential waste like vegetable trimmings into hearty soups, repackaging unused sauce for community use, and converting excess baking ingredients into tasty biscuits for those struggling with food scarcity. "We are excited to support the Let's make a meal of it campaign and strengthen our partnership with FareShare. Collaboration is key to addressing food insecurity, and we are happy to partner on this with the other retailers. "As a food retailer and manufacturer, we are committed to tackling food waste from field to fork. "We want to help eradicate food poverty and are delighted to play our part in this industry initiative to redistribute surplus food to people in need." James Bailey, managing director of Waitrose and Partners, said: "We are proud to be part of Alliance Food Sourcing to reduce food waste while tackling food insecurity. "Working with our suppliers, we're helping to divert surplus from our supply chain that would otherwise be wasted, to get good, nutritious food to people in need." Customers keen to contribute can round up their shopping bill at the checkout or make a donation via the FareShare website.
