John Lewis has appointed a new chairman to replace Dame Sharon White as the partnership battles to revive its fortunes.
The John Lewis Partnership, which runs the department store chain and Waitrose stores, said Jason Tarry, the former UK boss of Tesco, would be joining as its seventh chairman later this year, following a search which kicked off last October.
Mr Tarry stepped down as Tesco’s UK and Ireland chief executive last month after more than 33 years at the grocery giant. He had led Tesco’s UK operations for six years and was credited for his critical role in steering the supermarket through the pandemic.
When he stepped down, Tesco boss Ken Murphy said he had made the supermarket “the most competitive we have ever been”.
Mr Tarry’s appointment as John Lewis’s next chairman comes as the partnership refocuses back on its core retail business, having shelved plans to rapidly shift away from the high street.
Dame Sharon, commenting on her successor, said Mr Tarry has “fantastic retail experience with leadership through transformation”.
She said she was confident that Mr Tarry would take the business “from strength to strength”, building on the foundations laid under her tenure.
The partnership recently revamped its turnaround plans, including ditching its target to make 40pc of profits outside of retail by 2030.
John Lewis returned to profit last year for the first time since the pandemic.
The retailer previously said it was prioritising a push into rental homes and financial services. However, it said in its latest results last month that it would instead now have a “relentless focus” on retail in the short term.
Dame Sharon said Mr Tarry also had a “clear appreciation for the partnership model and champions it”.
It follows speculation last year that the retailer was considering selling off a stake to find cash to fuel its turnaround. This was later ruled out.
Mr Tarry said: “The partnership and its brands stand for trust, value, quality and service and it’s a great privilege to be succeeding Sharon as the seventh chairman. 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.”
John Lewis said it had decided that it would continue to keep the chairman role as a full-time commitment, having previously signalled that it could consider changing the role to part-time following the appointment of its first chief executive last March.
It said it had made this decision “at this critical point in the partnership’s transformation”.
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