Tesco Appoints Former Aldi Chief Matthew Barnes as UK Business Leader

Matthew Barnes, known for growing Aldi's UK market share and competitive pricing, replaces Jason Tarry with a focus on simplifying Tesco's array of special offers, amid a battle for market share during the cost of living crisis.

Matthew Barnes, former Aldi’s UK CEO, has been appointed as the new leader of Tesco's UK business, succeeding Jason Tarry who is set to leave in 2024 after over three decades at the supermarket.
Barnes played a key role in growing Aldi's UK market share from 4% to approximately 7%, and his experience could be pivotal in Tesco's fight against discount supermarket chains during the cost of living crisis.
In response to the competition, Tesco has been cutting the price of several food and drink items and has made price-matching Aldi on many products a focus of its strategy.
During his tenure at Aldi, Barnes enhanced the retailer's image amongst the middle classes and improved the quality of products, taking the brand upmarket and adding fresh foods.
Barnes' new role could present an opportunity to vastly simplify Tesco’s complex array of special offers, which currently includes promotions for its Clubcard loyalty program and deals matching Aldi’s prices.