Tesco has announced Ashwin Prasad as its new CEO for the UK and Ireland, marking a pivotal moment in the supermarket giant’s leadership. Prasad, currently serving as Chief Commercial Officer, is set to take up his new role on 30 June, following the sudden departure of Matthew Barnes after just 15 months at the helm.
Tesco enters this transition from a position of notable strength, boasting a 28% market share — its highest since 2016 — and strong financial results in the fiscal year 2025. This solid footing gives Prasad a robust platform as he faces the challenge of guiding Tesco through an intensely competitive price war era in the grocery sector.
With a proven track record in revitalising product ranges and expanding Tesco’s digital footprint, Prasad is seen as a steady and capable leader ready to maintain Tesco’s position as the number one grocery retailer in the UK and Ireland. His deep understanding of customer needs and commercial strategy will be critical in balancing competitive pricing pressures with the need to sustain margins and invest in innovation.
As the grocery market tightens with rivals like Aldi, Lidl, Asda, and Sainsbury’s all aggressively competing on price, Prasad’s leadership will be instrumental in navigating these turbulent waters. His ability to drive growth while keeping Tesco at the forefront of shopper loyalty and market innovation will shape the company’s future in this fierce price war.
Ashwin Prasad’s extensive commercial experience within Tesco, combined with his focus on digital transformation and product excellence, equips him well for this challenging role. The task ahead is clear: to defend and grow Tesco’s market dominance while adapting to the evolving demands of consumers and the broader retail environment.