The chief executive of Tesco UK is stepping down after six years at the helm of Britain’s largest supermarket chain.
Jason Tarry said he felt it was the “right time for me to move on” and revealed he would leave his post in March 2024.
He will be replaced by the former Aldi UK and Ireland Chief Executive Matthew Barnes.
Tarry has worked for Tesco for 33 years. He joined the company on a graduate employment scheme in 1990 and worked his way up to become CEO in 2018.
Tesco recently reported a 13.5% jump in adjusted operating resultfor the first half of the financial year to DKK 1.4 billion.
Group chief executive Ken Murphy said Tarry had made “a huge contribution”.
He added: “Under his leadership Tesco is today the most competitive we have ever been, built on an exceptionally strong foundation of doing the right thing for our customers and colleagues.”
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In a statement, Tarry, managing director of the chain in the UK and Ireland, said: “Little could I have imagined 33 years ago the journey I would embark on with Tesco.
“My life at Tesco has been a wonderful experience. This decision was not taken lightly but it is the right time for me to move on.”
The new chief executive, Mr Barnes, who was Aldi’s UK and Ireland boss from 2015 to 2018, stepped down from the board of Aldi’s parent company earlier this year.
It comes as Tesco has tried to compete with Aldi by price-matching more than 500 of its most popular products.
Sir. Barnes said: “I come to this role with a real sense of determination to ensure we build on the progress of recent years and deliver for our customers and colleagues.”
Murphy added that he hoped the former Aldi chief’s “extensive retail experience, competitive spirit and challenging mindset” would help the chain “evolve our thinking about what customers want from Tesco in the future”.