UK supermarket Waitrose says boss James Bailey to step down

LONDON (Reuters) -British supermarket group Waitrose said on Thursday its boss James Bailey will quit the business at the end of next month.

Bailey has held the managing director role at the upmarket grocer, which is part of the employee-owned John Lewis Partnership, since 2020, steering it through the pandemic and the cost of living crisis.

No reason was given by Waitrose for his abrupt departure, though Bailey said: "This feels like the right time to hand over the reins."

Partnership Chairman Jason Tarry, a former Tesco executive, added: "We will be sad to see James go but understand and respect his decision to step down."

Waitrose, which has a 4.4% share of Britain's grocery market, said Tina Mitchell, currently retail director, will become interim managing director when Bailey leaves on September 30.

(Reporting by James Davey, Editing by Paul Sandle)