Tesco UK CEO Jason Tarry to step down and be succeeded by former Aldi UK boss Matthew Barnes

The company announced that Tarry will be stepping down in March 2024 and will be replaced by former Aldi UK boss Matthew Barnes.

Tarry has been at Tesco for 33 years with the last six years spent as UK CEO.

The retailer said: “Jason’s leadership has guided Tesco through its turnaround and more recently the pandemic, rebuilding its competitiveness in the UK and putting customers back at the heart of the business.”

Tesco group chief executive 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 said: “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.”

Barnes will join Tesco on March 1, 2024, having previously headed up Aldi’s UK and Ireland operations and being co-head of Aldi Sud’s executive board.

He 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.”

Murphy added: “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.”