John Lewis confirms departure of Finance Director

The John Lewis Partnership has announced that Bérangère Michel, Executive Director for Finance, will be leaving later this year "to pursue future career options outside of the partnership".

Michel has spent the past 16 years in various senior leadership positions across retail, supply chain and customer operations in both John Lewis and Waitrose.

As both an executive and board director, she has "supported the improved performance and long-term financial health of the business".

"After 16 fantastic years in the partnership, and with the business on a strong financial footing with funding secured for the next phase of the plan, it feels like the right time to move on," Michel said in a statement.

Nish Kankiwala, CEO of the John Lewis Partnership, said: "I would like to personally thank Bérangère for her remarkable contribution to the partnership over 16 years - and most recently for the critical role she has played in co-creating our refreshed plan and new operating model for the business.

"Her passion for our unique model and commitment and dedication to securing our long-term success have been unwavering."

Dame Sharon White, Chairman of the John Lewis Partnership, added: "Bérangère embodies everything that is special about the partnership and has been a fervent champion for our ownership model, democracy and values.

"She will leave the partnership in a much stronger financial position, overseeing a return to profit, record investment planned for this year and debt at historic lows."

A process of recruitment to appoint a successor to Michel, who is expected to leave the business by autumn 2024, will now begin.

Last month, the John Lewis Partnership reported a return to annual profit, after making a series of productivity improvements and achieving rising sales in fashion and beauty.

The partnership reported pre-tax profits of £56 million for the year to 27 January 2024 against losses of £234 million in the previous year. Sales across the partnership were up 1% at £12.4 billion.

Earlier this month, it was also revealed that Jason Tarry will be taking over as Chairman of John Lewis in September 2024, when Sharon White steps down.