John Lewis-Waitrose boss Sharon White to stand down
Dame Sharon White, the boss of department store group John Lewis and supermarket chain Waitrose, is stepping down next year. Her departure comes a month after she revealed her five-year turnaround plan of the struggling retailer would be delayed by two years.
The chairman is reported to have told the company she will not be seeking a second five year term when her first comes to an end, the BBC reported.
The partnership reported a loss of £234m last year, and although losses narrowed in its recent half-year results losses before tax and exceptional items were £57.3m.
Sharon White said: “The chairman of the John Lewis Partnership is a special and unique role in UK business.
“The chairman is responsible for the long-term health of the partnership’s model, commercial success twinned with a commitment to first rate customer service and action in our communities.
“Having led the partnership through the pandemic and the worst of the cost-of-living crisis, it is important that there is now a smooth and orderly succession process and handover.
“The partnership is making progress in its modernisation and transformation with improving results.
“There is a long road ahead and I am committed to handing on the strongest possible partnership to my successor.”
The partnership reported a loss of £234m last year, and although losses narrowed in its recent half-year results losses before tax were £57.3m.
Dame Sharon courted controversy after she saying she would considered breaking the employee-owned structure of the partnership by selling a stake to outside investors to raise money to invest in the partnership. The plan was abandoned after an outcry. She later faced a rare confidence vote at the partnership but won.
Recently, it was announced that Waitrose would sell off a number of stores and lease them back to raise cash.
