John Lewis head Sharon White to step down in 2025, won’t get £1.1 million payout | Know the challenges in her tenure
Sharon White, the current chair of the UK retailer John Lewis Partnership, has announced her intention to step down from her position in February 2025, at the end of her five-year term. The decision not to seek a second term makes her the shortest-serving chair in the company's history.
Succession Planning Amidst Challenges
White has asked John Lewis' board to begin the search for her successor. Notably, she will not receive a payout from her approximately £1.1 million a year role. Alongside her departure, she has called for a review of the chair's responsibilities, particularly the relationship between the new chair and the chief executive, to ensure they align with the ongoing turnaround plan.
In her statement, White acknowledged her role in guiding the partnership through the pandemic and addressing the cost of living crisis. She emphasized the need for a smooth transition, stating, «There is a long road ahead, and I am committed to handing on the strongest possible partnership to my successor.»
Chairing John Lewis, White noted, is a unique role in UK business, encompassing the long-term well-being of the staff-owned model, blending commercial success with top-tier customer service and community engagement.
Challenges During White's Tenure
White's decision to step down follows last month's announcement that the group's turnaround would take an additional two years, incurring higher costs, following another reported loss over the previous six months.
Her time as chair has been marked by controversies, including plans to sell a stake in the business to raise over £1 billion, which was eventually abandoned after a close vote of confidence. Although staff expressed dismay over the retailer's performance, they
