Tesco's UK boss Matthew Barnes steps down after 15 months

By James Davey

LONDON (Reuters) -Tesco, Britain's biggest supermarket group, said Matthew Barnes, its UK boss who was seen by some analysts as the likely successor to group CEO Ken Murphy, has stepped down after just 15 months in the job.

Barnes, also a former boss of discounter Aldi UK, will be replaced from June 30 by Ashwin Prasad, currently Tesco's chief commercial officer, the group said on Thursday.

“I have decided to step down to pursue other opportunities," Barnes said.

Murphy, group CEO since 2020, said Barnes leaves "with our respect and sincere thanks for his contribution."

Tesco has performed strongly over the last year, with monthly industry data showing gains in market share. Its shares are up 22% over the last year.

However, it did warn last month its profit would likely fall this year as it set aside cash to deal with a step up in the "competitive intensity" of the market.

Tesco has also appointed Natasha Adams, currently Ireland & Northern Ireland CEO, to a newly created role of chief strategy & transformation officer, effective from June 9.

(Reporting by James Davey in London and Chandini Monnappa in Bengaluru; Editing by Tasim Zahid, William James and Susan Fenton)