John Lewis boss Sharon White to step down next year
John Lewis boss Sharon White will step down next year
- White reportedly will not seek reappointment at the end of the five-year term
- Her departure makes her the shortest-serving chairman in the partnership’s history
The chairman of John Lewis Partnership will step down next year amid continued losses and a delay in the retail giant’s turnaround plan.
Sharon White has told the John Lewis board she will not seek reappointment to the role at the end of her five-year term, making her the shortest-serving chairman in the partnership’s 100-year history.
Her departure comes two weeks after White was forced to admit that John Lewis’ turnaround plans would take two years longer than initially planned ‘inflationary pressures’.
The five-year transformation plan, which was launched in 2020, will not be completed until 2027-2028.
Short-lived: Sharon White will not seek reappointment, marking the shortest-serving chair in its 100-year history
The financial pressure is threatening future bonuses for John Lewis staff, who are partners in the business, with the group posting a £59m loss for the first six months of 2023, following a £99m loss the year before.
The losses are in stark contrast to the strong performance of rival Marks & Spencer.
John Lewis has today confirmed that this is the case initiated the process to appoint a successor and ‘reviewing the responsibilities of the chairman’s role to ensure they continue to support the successful transformation of the business’.
Rita Clifton, vice chair and chair of the nominating committee, will oversee the nomination process.
White, who only recently joined the industry’s call for the authorities to get a handle on rising levels of shoplifting, has faced mounting pressure as John Lewis’s performance has deteriorated.
The group, which also owns Waitrose, suffered a third year of losses in 2022 and was forced to scrap its annual staff bonus this year for only the second time since 1953.
In May, White lost a vote on her performance over the past year after even bigger losses, though she won a vote on her overall leadership.
In efforts to revive trading, the group has taken steps including Waitrose price cuts, a revamp of its children’s clothing range and a major recruitment drive ahead of the Christmas period.
John Lewis also appointed its first-ever CEO in March, with Nish Kankiwala flagging its buy-now-pay-later options as a potential gamechanger.
Writing for the Mail on Sunday in June, White supported staff amid growing business interest in artificial intelligence and machine learning processes
This year, the company canceled its annual employee bonus for the second time since 1953
White said: “The chairman of the John Lewis Partnership has a special and unique role in British business.
“The Chairman is responsible for the long-term health of the partnership model – commercial success coupled with a commitment to first-class customer service and action in our communities.
‘As we have led the Partnership through the pandemic and the worst of the cost of living crisis, it is important that a smooth and orderly succession and handover process now takes place.
“The partnership is making progress in modernization and transformation, with increasingly better results. There is a long way to go and I am determined to pass on the strongest possible partnership to my successor.”