Cambridge-educated John Lewis boss Dame Sharon White to step …
John Lewis boss Dame Sharon White will step down next year after five years chairing the partnership. The move will make her the shortest-serving chair in the firm's 100-year history.
Dame White attended Fitzwilliam College, Cambridge, and received a BA degree in economics. She later studied at University College London.
She has begun talks with the John Lewis board to appoint her successor, the BBC reported[1]. She told the board she would not seek a second term after her current five-year agreement ends in 2024.
The partnership reported a loss of £234million last year and had to scrap the annual staff bonus. In a letter to staff in March, Dame White said: "You've been exceptional in what has been another very tough year. Two years of pandemic and now a cost-of-living crisis.
"Inflation has had a big impact on the partnership and sent our costs soaring – up almost £180 million on last year. All in all, this has made for a tough set of results. We made a loss of £78 million.
"I am sorry that the loss means we won’t be able to share a bonus this year or do as much as we would like on pay. We'll continue to help with the cost of living in other ways – the financial assistance fund will stay at £800,000 (a doubling) and there is support for travel, childcare and living costs."
The partnership announced two weeks ago that losses had narrowed to £59m for the first six months of the year. Dame White said there was a long road ahead to profitability.
References
- ^ the BBC reported (www.bbc.co.uk)