Dame Sharon White is set to step down as the boss of the John Lewis Partnership (JLP) at the end of her current five-year term as the first woman to lead the famous group.
The former Ofcom chief joined the employee-owned business at the start of 2020 and led a major overhaul which has included a move into rental accommodation and some store closures.
Dame Sharon will stand down in February 2025, when her term ends. She has asked the partnership board to start the process of recruiting a successor.
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The partnership today includes the historic John Lewis & Partners department store chain and Bracknell-headquartered grocery giant Waitrose.
Dame Sharon said: “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.”
Dame Sharon has faced significant scrutiny in her time at the helm - particularly this year amid reports she could try to introduce internal investment and change the employee-owned structure of the partnership.
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JLP posted a £234 million loss in the last financial year, forcing it to scrap its annual bonus for staff. It recently posted a £59 million loss for the six months to July and said its five-year transformation plan launched in 2020 will take two years longer than planned.
Rita Clifton, deputy chairwoman and chairwoman of the group’s nominations committee, will oversee the appointment of its next boss.
Earlier on Monday, the department store chain said predictions of the death of the high street have been “overstated”.
Writing in the retailer’s annual How We Shop, Live and Look report, John Lewis commercial director Kathleen Mitchell said: “People want to come back to shops, especially on Saturdays.
“Evening shopping has been replaced by weekend shopping. Customers are eating, drinking, spending time in our shops and enjoying all that our stores have to offer – customer numbers are up 8% on last year.
“As many families have discovered, it can be quite a good value day out, with a little self-restraint.
“A general election and – we hope – an easing of the cost-of-living crisis are likely to dominate the headlines, but on the high street we expect to see our stores become even more compelling destinations.”