(Alliance News) - Sharon White is set to step down as the boss of the John Lewis Partnership at the end of her current five-year term.

The former Ofcom chief joined the employee-owned business at the start of 2020 and has since led a major overhaul which has included a raft of store closures and a shift in new business areas such as rental accommodation.

White will stand down as chair of the partnership, which runs the historic department store chain and supermarket chain Waitrose, when she completes her term in February 2025.

JLP said she asked the partnership board to initiate the process to appoint a successor.

It is understood that she will be the shortest-serving chair in the partnership's 100-year history

White 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."

White was the first woman to lead the company but faced significant scrutiny, particularly after reports earlier this year that she could be looking to introduce an external investor for the first time and potentially stop the business being entirely employee-owned.

The announcement also comes weeks after the retail group posted a GBP59 million loss for the six months to July and said the five-year transformation plan launched by the retail group in 2020 will take two years longer than planned.

The retail group posted a GBP234 million loss in the last financial year, forcing it to scrap its annual bonus for staff.

source: PA

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