John Lewis has announced that Jason Tarry, the former boss of Tesco's UK business, will become its next chairman. He will take over from Dame Sharon White in September, who announced last year she would step down at the end of her term.
The partnership, which includes John Lewis department stores and Waitrose supermarkets, has faced increasing pressure in recent years, closing stores and cutting jobs, but recently returned to profit. Mr Tarry, who will be only the seventh chairman in the company's history, described it as a 'great privilege' to lead the firm.
Dame Sharon, the first woman and one of the few black women to lead a major UK business, faced controversy over considering changes to the employee-owned structure and criticism for her lack of retail experience. However, she defended her background, noting predecessors from outside retail.
Rita Clifton, deputy chairman, thanked Dame Sharon for leading through Covid and the cost-of-living crisis, overseeing financial recovery. Last month, John Lewis reported full-year profits of £56m, compared with a £234m loss the previous year, though no staff bonus was paid for the second consecutive year.
Mr Tarry spent over 33 years at Tesco, most recently as chief executive of its UK and Ireland business. He said the partnership 'stands for trust, value, quality and service'. Retail analyst Zoe Mills noted his experience could rejuvenate the partnership, but warned that Marks & Spencer poses a clear threat, particularly in clothing and premium food.
