The John Lewis Partnership has picked former Tesco UK boss Jason Tarry to replace Sharon White as its new chairman - only the seventh in its history - when she leaves in September.
White announced her departure late last year after a difficult four years in charge. The staff-owned retailer, which also owns Waitrose, scrapped its annual bonus for each of the last two years - two of only three times in history that John Lewis staff have gone without the bonus.
White was originally set to leave early next year, but with Tarry’s appointment, her exit has now been pushed forward to September.
At one stage, the high street institution’s troubles seemed so severe that White considered ending the partnership’s 100% employee-owned model.
Rita Clifton, Deputy Chairman and Chair of the Nomination Committee, said: “The board extends its huge thanks to Sharon for successfully leading the partnership through one of the most testing periods in its history - first Covid and then the cost of living crisis.
“Sharon has also helped ensure that employee ownership of the partnership is secure, is demonstrably focused on its purpose as a force for good and with an open and inclusive culture.”
Tarry had spent 33 years at Tesco since joining on a graduate scheme, including six as CEO of its UK and Ireland business. He’ll earn the same salary as White did: £1.1 million a year.
The selection of a lifelong retail sector employee appears to be a return to the basics for John Lewis, in contrast with ex-civil servant White. Tarry’s supermarket experience may also put to bed speculation that the partnership would seek to offload Waitrose.
Tarry said: “The partnership is unique and I’ve long been an admirer of the employee-ownership model, its values and Partner-led customer service. This starts with a sharp focus on being brilliant retailers for customers and investing in growth.”
