What: Berangere Michel, Finance Director of John Lewis Partnership, will step down later this year.

Why it is important: This change in the finance leadership at John Lewis comes at a critical time when the company has just returned to profit after three years.

Berangere Michel, the Finance Director of the UK's John Lewis Partnership, is set to leave her role later this year after a 16-year tenure with the company. This announcement follows closely on the heels of the appointment of Jason Tarry as the upcoming chairman and comes after the recent departure of Sharon White. Michel, who stepped into her current role in 2021, has played a pivotal part in steering the company back to profitability, particularly through improvements in the food business and effective cost-saving measures. Her departure is scheduled for autumn, marking the end of a significant phase of leadership within the company.

UK's John Lewis says finance boss to step down later this year