The John Lewis Partnership has announced that James Bailey will step down from his role as Managing Director of Waitrose at the end of next month.
Tina Mitchell, the supermarket’s Retail Director, will become Interim Managing Director while the business searches for a permanent replacement.
Bailey joined the upmarket supermarket in 2020, guiding it through a challenging period during the pandemic and cost-of-living crisis. An overhaul of its product offering and store services has helped restore sales growth. And last year, Waitrose announced plans to inject £1bn in opening new stores and improving existing sites.
Jason Tarry, Chairman of the Partnership, commented: “James has done an outstanding job, overseeing significant transformation and growth during a period of change. He’s a great colleague and has been a highly valued member of the Executive Team.
“We will be sad to see James go, but understand and respect his decision to step down after five and a half years at the helm. James will leave Waitrose in a much stronger position, and I know he will be missed by everyone.”
Bailey added: “It’s been a great privilege to lead this unique and special business and most especially to get to know all the Partners who make it what it is. I’m very proud of everything we’ve achieved together; it’s been a lot of hard work but very rewarding and I’m so happy now to see the business thriving.
“Waitrose is back on a very strong footing with record customer numbers, strong sales growth and a turnaround in profitability, so after five and a half years this feels like the right time to hand over the reins. I feel confident that we’ve laid the foundations for long-term success and have the opportunity now to go from strength to strength.”
NAM Implications:
- As we all know, five years of Lockdown fallout has to be equivalent to twice that for those in retail and supply…
- …that survived and thrived in such unprecedented times.
- Meanwhile, Waitrose has regained its momentum.
- Watch this space…
