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Tesco's UK boss Jason Tarry to step down in March

Reuters
·1-min read
A TESCO sign is seen at a store in Weybridge

LONDON (Reuters) -Britain's largest retailer Tesco said on Thursday its UK Chief Executive Jason Tarry would step down in March next year after more than 33 years at the company, to be replaced by Matthew Barnes.

Barnes was previously UK and Ireland CEO at German discounter Aldi, before becoming the co-head of parent company Aldi Sud's executive board, where he oversaw many of the retailer's international businesses and its supply chain operations.

"Jason has made an immense contribution to our business," Tesco Group Chief Executive Ken Murphy said of Tarry, who became the supermarket group's UK boss in 2018.

"Under his leadership, Tesco today is the most competitive we have ever been."

Earlier this month, Tesco raised its annual profit forecast and said it was upbeat about prospects for Christmas trading.

(Reporting by James Davey and Kylie MacLellan, Writing by Sachin Ravikumar)