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John Lewis’ next chairman could reportedly be offered a part-time role following suggestions from Dame Sharon White in order to help attract high-level talent as her successor, according to The Telegraph.
It comes as White is expected to step down from her role in early 2025 after she told the board she will not seek a second term as chairman of the partnership.
Reports suggest that White could step down earlier if a suitable successor is found although sources expect the process to take some time.
White has reportedly asked the board to review the “accountabilities of the role” after coming under intense scrutiny during her tenure and also to consider the nature of the position following the firm’s establishment of a CEO earlier this year.
In an internal video message on Monday seen by the outlet, White said: “When I joined almost four years ago, I agreed a five-year term with the board and time has really flown.
“It’s really important for the partnership that there is a really good process, that the partnership gets the best possible replacement for me.”
John Lewis recently revealed its losses narrowed to £59m for the 26 weeks ended 29 July 2023.
Alongside this the company’s losses before tax and exceptional items fell 14% to £57.3m down from £66.8m in the same period last year.
Sales at the company topped £5.8bn for the half year, an increase of 2% compared with last year.
Waitrose trading operating profit improved from £431.7m to £504.4m while John Lewis trading operating profit fell back from £295.0m to £277.1m
The company’s cash generated from operations was £97.4m which was £76.7m better than the same period last year.
As a result the company stated that the economic outlook was uncertain, but it expects improvement in full year financial results.
