John Lewis Partnership could appoint a part-time chair as a successor to Sharon White, who announced on Monday she would be stepping down from running the retailer in 2025.
Telling the board that she would not be seeking a second term as chair and instead would step down by February 2025, White also discussed with directors what accountabilities the role would hold for a successor in order to “support the successful transformation of the business”.
White is expected to leave earlier should a replacement be found before her term ends; however, it is likely to be a long process, reports revealed.
Talks are underway about potentially transforming the role to attract more candidates, with the company’s C-suite aware of how stressful the high-profile head role can be.
One change being considered is whether there is a need for the chair to be full-time, especially with the recent hiring of chief executive officer Nish Kankiwala, who is handling more of the day-to-day operations of the company.
Under White’s tenure, intense pressure was placed on the shoulders of the 56-year-old and with macroeconomic headwinds like the pandemic and the cost-of-living crisis, the retail boss’ reign was characterised by huge losses, job cuts and unwanted changes.
John Lewis wants to make sure the pressure of the job doesn’t hinder it from attracting the best boardroom talent around and with the turnaround project seen as a key indicator of success, White's successor may be facing criticism from very early on.
Sources noted that discussions had just begun over the role and no decisions about the job had been made permanent.