The John Lewis Partnership has today announced that James Bailey has decided to step down from his role as managing director of Waitrose later this year.
Bailey joined Waitrose in 2020 and successfully steered the business through the pandemic and the cost of living crisis.
“James has done an outstanding job, overseeing significant transformation and growth during a period of change. He's a great colleague and has been a highly valued member of the Executive Team,” Jason Tarry, Chairman of the Partnership, said.
“We will be sad to see James go but understand and respect his decision to step down after five and a half years at the helm. James will leave Waitrose in a much stronger position and I know will be missed by everyone.”
Bailey previously spent 18 years at Sainsbury's.
At Waitrose, he spearheaded a push into the convenience market, as the upmarket chain opened its first convenience store in six years in November last year.
Bailey will continue in the role through to the end of September, and Tina Mitchell, retail director for Waitrose, will serve as the interim managing director once he leaves.
Bailey said: “It's been a great privilege to lead this unique and special business and most especially to get to know all the Partners who make it what it is. I'm very proud of everything we’ve achieved together; it’s been a lot of hard work but very rewarding and I’m so happy now to see the business thriving.
“Waitrose is back on a very strong footing with record customer numbers, strong sales growth and a turnaround in profitability so after five and a half years this feels like the right time to hand over the reins. I feel confident that we've laid the foundations for long term success and have the opportunity now to go from strength to strength.”
John Lewis Partnership said it has started the process to find Bailey’s successor.