Jason Terry: Tesco UK boss to step down next year, who will replace him

The boss of Tesco’s UK business is to step down next year, with a former Aldi executive set to replace him in the role. The UK’s largest supermarket group said UK chief executive Jason Tarry “has decided to leave” the business in March 2024.

He led the UK operation for six years, playing a significant role in its turnaround amid the fallout of its accounting scandal and related £129 million fine. Mr Tarry, who worked for the business for around 33 years in total, most recently helped lead the company through the Covid-19 pandemic and cost-of-living crisis.

The supermarket giant said he will be replaced in the high-profile role by former Aldi UK and Ireland chief executive Matthew Barnes. 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.”

Mr 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.”

Mr Barnes, who was Aldi’s UK and Ireland boss from 2015 to 2018, will take over the role after stepping down from the board of Aldi’s parent firm earlier this year. It comes as Tesco has sought to attract and retain shoppers by committing to match Aldi prices for a range of its most popular products.

Mr Barnes said: “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.

Mr 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.”