Waitrose MD Mark Price will take on the additional role of deputy chairman at the UK retailer’s parent, The John Lewis Partnership.
Price will replace David Barclay next month. Barclay is stepping down from the position and as a non-executive director as he has reached the end of his final term in office, John Lewis said today (26 July).
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Barclay will stay on the John Lewis Partnership board until next February to assist the company in finding a new non-executive director.
John Lewis Partnership chairman Charlie Mayfield said: “In his 31 years with the Partnership, Mark has worked across John Lewis, Waitrose and group roles and is well placed to take on this additional leadership role at a Partnership level as we continue to grow our business.”
In its last full financial year, for the 12 months to the end of January, Waitrose reported increased sales and operating profit.
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Its most recent quarterly statement, issued in May, showed Waitrose had seen sales grow 11% in the first three months of its current fiscal year.
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By GlobalDataThe upmarket retailer has grown its business during the downturn through a combination of keen pricing and investment in own label. However, Waitrose’s position at the more premium end of the market has also meant the retailer has benefited from demand for quality from more affluent consumers whose incomes have been protected – and even grown in real terms – from the prolonged period of low interest rates in the country.
