Sharon White, the chair of the John Lewis Partnership, will not seek a second term, it said on Monday.
The employee-owned group, which runs John Lewis department stores and Waitrose supermarkets, said White had asked the partnership's board to initiate the process to appoint a successor as she enters the latter stages of her five-year term.
White took up the job in February 2020 and her term is due to end in February 2025.
The partnership warned last month that its turnaround would take two years longer than planned and cost more money and it reported another loss for the most recent six-month period.
White, a former Treasury official and telecoms regulator, said earlier this year that the partnership could bring in outside investment - a proposal that drew criticism.
"Having led the Partnership through the pandemic and the worst of the cost of living crisis, it is important that there is now a smooth and orderly succession process and handover," said White.
"The Partnership is making progress in its modernisation and transformation with improving results. There is a long road ahead and I am committed to handing on the strongest possible Partnership to my successor."
Rita Clifton, deputy chairman and chairman of the nominations committee, will oversee the appointment process.
(Reuters)
