From Tesco trainee to John Lewis boss
The business news that matters
Hello and welcome to the latest edition of Off to Lunch…
The John Lewis Partnership, the owner of John Lewis department stores and Waitrose supermarkets, has appointed Jason Tarry as its new chairman.
Tarry is a veteran of the retail industry after spending 33 years working for Tesco. His appointment as the boss of John Lewis and Waitrose represents a striking rise up the ranks of the industry for someone who joined Tesco as a graduate trainee in 1990. Tarry worked across Tesco’s businesses and is highly regarded for his work in building the F&F clothing brand.
Tarry was most recently the chief executive of Tesco’s UK and Ireland business for six years. However, Tesco announced at the end of last year that Tarry would leave the company, which is the biggest retailer in the UK
Tarry will become only the seventh chairman of the John Lewis Partnership, whose origins can be traced back to 1864. He succeeds Dame Sharon White in the role. While Dame Sharon had never worked in the retail industry, Tarry is a veteran of the sector. It was announced in early October 2023 that Dame Sharon would not seek re-election as chairman. Just 24 days later, Tesco announced that Tarry would leave the retailer.
John Lewis and Waitrose have been struggling amid fierce competition and weak consumer confidence. The Partnership is owned by its 70,000+ workforce, but they have not received a bonus for the last two years.
Rita Clifton, who led the search for Dame Sharon’s replacement as deputy chairman and chair of the Partnership’s nomination committee, said:
“As the Partnership moves into the next phase of its modernisation focused on our core retail business as well future growth, we are confident that Jason will provide the kind of inspirational leadership, a proven track record in multi-channel, multi-category retail success and a strong identification with Partnership values that we are seeking in this role. Jason has impressed everyone throughout the interview process with his warmth, his belief in the Partnership’s ideals and democratic principles and his appreciation for our unique and special brands.”
Tarry will start in the role in September. He said :
“The Partnership and its brands stand for trust, value, quality and service and it’s a great privilege to be succeeding Sharon as the seventh chairman. The Partnership is unique and I’ve long been an admirer of the employee-ownership model, its values and partner-led customer service. This starts with a sharp focus on being brilliant retailers for customers and investing in growth. I’m looking forward to working with the board, Nish [Nish Kankiwala, chief executive] and the executive team to deliver its clear strategy.”
You can find the full statement from John Lewis here
Podcast…
The latest episode of our Business Leader podcast looks at how a career in the military can help you build a business. Floyd Woodrow and Peter Malmstrom had illustrious military careers in the SAS, the special forces unit of the British Army. Now they are using what they learned about leadership, team-building, and negotiating to build Quantum Group, which is already worth hundreds of millions of pounds.
You can listen to the episode on Substack here, Spotify here and Apple here
Other stories that matter…
1. In case you missed it over the Easter break, Business Leader has published some fascinating pieces over the last week. Humphrey Cobbold, the chief executive of PureGym, has provided a rare insight into how the management teams of big businesses think about strategy. “We don’t yet think that AI can lift weights for people, but there is no doubt that AI will change cost structures and tasks for our members and colleagues alike, so we need to be making appropriate investments to understand and learn in these areas,” he writes. “As for the global and macroeconomic picture, good luck predicting that. We tend to keep our heads down and focus on influencing the things we can control to a degree, while being ready to react to the big-picture changes we cannot.” You can read the piece here
2. Also on Business Leader, Jake Humphrey has looked at the importance of taking responsibility even when something is not your fault. “Maybe, if you’re an entrepreneur, the costs of heating your property or paying your rates have suddenly rocketed and people don’t go to the high street as often,” he writes. “None of those things are our fault. But as business leaders all of us have a responsibility to find a way through that.” More here
3. New research from BDO and Deloitte, the accountancy firms, suggests that the economy is turning a corner and businesses across the UK are becoming more optimistic. Story by The Times here
4. However, one industry where businesses are still under-pressure is craft beer, at least according to an analysis by The Guardian. “It’s like death by a thousand cuts at the moment,” says Alex Troncoso, co-founder of the Bristol-based Lost & Grounded in the piece. You can read the feature here
5. The Financial Times has interviewed Mary Perkins, who co-founded Specsavers with her husband Douglas in 1984 and is still working in the business at the age of 80. “If you know you’re doing something right, carry on and do it, it might take a bit longer,” she says. “ If it’s right for [customers], you stick at it.” You can read the interview in full here
The new Business Leader…
The new Business Leader website and magazine have now launched. We are building a new inspirational, aspirational and agenda-setting business publication for the UK. You can read our analysis, interviews and expert columnists on our website by clicking the image below. Our new magazine is now available in shops and you can subscribe to your own print or digital version by clicking here
And finally…
I enjoyed reading Caledonian Road by Andrew O’Hagan over Easter. It’s a state-of-the-nation novel set in London in 2021. Despite the book being 650-pages long, I rattled through it quickly. I found the book a welcome change-of-pace from the biographies and non-fiction titles I have read recently. Thanks to Tom Rowley and his Backstory shop for the recommendation. You can find the book here
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