UK retailer Tesco has announced that CEO Jason Tarry has decided to leave the business in March 2024, with previous Aldi CEO Matthew Barnes to replace him.
After working for 33 years in various roles within Tesco, both food and non-food divisions, Tarry will be succeeded as UK CEO by Matthew Barnes, who will join Tesco on 1st March 2024.
Tesco Group CEO Ken Murphy said: “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.
“His values and commitment to creating a high performing, supportive and diverse culture have been key to creating the Tesco we know today.
“I am incredibly grateful to Jason for his leadership of the UK business and his critical role on the executive committee. We have five months until Jason leaves us, and I know he will do his utmost to ensure our UK business continues its very strong performance until then, including delivering a winning Christmas.”
Tarry stated: “Little could I have imagined 33 years ago, the journey I would go on with Tesco. My life in Tesco has been a wonderful experience. This decision was not made easily but this is the right time for me to move on.
“I am grateful to my amazing colleagues and the lifelong friends I have made here. I will 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.”
“Extensive” retail experience
Barnes was previously the Aldi UK & Ireland CEO before being promoted to co-head of Aldi Sud’s executive board, where he had responsibility for many of Aldi’s international businesses and its Global Sourcing, Buying and Supply Chain.
Commenting on Barnes’ appointment as incoming UK CEO, Ken Murphy said: “I believe the combination of Matthew’s extensive retail experience, competitive spirit and challenger mindset will help us continue to win in the UK market and evolve our thinking about what customers will want from Tesco in the future.
“We look forward to welcoming Matthew to Tesco early next year, and I’d like to thank Jason for all the support he has given to creating a smooth transition plan.”
Barnes said: “I have always had the highest respect for Tesco, and I’m really excited to be joining the team. It is an honour to be appointed as UK CEO.
“I come to this role with a real sense of determination to ensure that we build on the progress of the last number of years and deliver for our customers and colleagues.”
