John Lewis confirms departure of Finance Director - Indoors Beauty

John Lewis confirms departure of Finance Director

John Lewis confirms departure of Finance Director

The John Lewis Partnership has introduced that Bérangère Michel, Executive Director for Finance, might be leaving later this 12 months “to pursue future profession choices outdoors of the partnership”.

Michel has spent the previous 16 years in numerous senior management positions throughout retail, provide chain and buyer operations in each John Lewis and Waitrose.

As each an govt and board director, she has “supported the improved efficiency and long-term monetary well being of the enterprise”.

“After 16 implausible years within the partnership, and with the enterprise on a robust monetary footing with funding secured for the subsequent section of the plan, it looks like the correct time to maneuver on,” Michel stated in a press release.

John Lewis

Nish Kankiwala, CEO of the John Lewis Partnership, stated: “I want to personally thank Bérangère for her exceptional contribution to the partnership over 16 years – and most just lately for the important position she has performed in co-creating our refreshed plan and new working mannequin for the enterprise.

“Her ardour for our distinctive mannequin and dedication and dedication to securing our long-term success have been unwavering.”

Dame Sharon White, Chairman of the John Lewis Partnership, added: “Bérangère embodies the whole lot that’s particular concerning the partnership and has been a fervent champion for our possession mannequin, democracy and values.

“She will depart the partnership in a a lot stronger monetary place, overseeing a return to revenue, report funding deliberate for this 12 months and debt at historic lows.”

A course of of recruitment to nominate a successor to Michel, who is anticipated to depart the enterprise by autumn 2024, will now start.

Last month, the John Lewis Partnership reported a return to annual revenue, after making a sequence of productiveness enhancements and attaining rising gross sales in vogue and sweetness.

The partnership reported pre-tax income of £56 million for the 12 months to 27 January 2024 in opposition to losses of £234 million within the earlier 12 months. Sales throughout the partnership have been up 1% at £12.4 billion.

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

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