The John Lewis Partnership, which owns John Lewis and Waitrose, has begun searching for a successor to its longstanding chairman, Sir Charlie Mayfield.
Mayfield, who has been in the role since 2007, will step down in 2020. The new chairman will be announced in the second half of 2019.
He said: “Although my departure is still a considerable way off, the appointment of my successor is a key responsibility. It is for this reason I have decided to lay out the timetable now to enable an open and thorough process to select the next chairman.”
The process for selecting a new chairman will be overseen by a nominations committee, comprising Mayfield, two elected directors and two independent non-executive directors.
It will be chaired by the partnership’s deputy chairman, Keith Williams, and supported by independent recruitment consultants, who will consider both internal and external candidates.