Mark Price checks out of Waitrose to pursue TV role

Fellow bosses salute retailer who proved his critics wrong as he steps down to pursue top job at Channel 4

Praise was heaped on the outgoing boss of Waitrose as Mark Price resigned unexpectedly to pursue the vacant chairmanship of broadcaster Channel 4.

He leaves the employee-owned business after 33 years with its parent company, the John Lewis Partnership, and nearly a decade as Waitrose’s managing director, shrugging off turmoil at his biggest rivals.

Sir Ian Cheshire, the former chief executive of Kingfisher, said: “Many people had written Waitrose off as irrelevant before Mark started, saying there was no room for that kind of offer, but he proved them wrong.”

Mr Price will step down as managing director in April and turn his attentions to Channel 4 and the interview process to replace Lord Burns, who stands down from the broadcaster in January.

Mr Price is in pole position for the top job at the broadcaster, having been deputy chairman for two years and on the board since 2010 – although he will also take up new roles as a retail adviser and lecturer, as well as continuing to write books on food and business.

He said: “I’m 55 next year and thought, ‘I can’t go on and on running Waitrose for ever’. I’m coming up to my 10th year. I thought it was the right time for me and obviously I can’t do Channel 4 and Waitrose at the same time.

“You couldn’t have wanted a more exciting time in retail than I’ve had and I’ve seen such huge change. But I feel... it’s the right time and the Channel 4 opportunity is the right opportunity.”

Under John Lewis’s rules, partners over 55 are entitled to the company’s generous lifetime pensions benefits.

The self-styled “chubby grocer” succeeded Steven Esom as Waitrose’s managing director just before the financial crisis hit and persuaded many consumers to trade down on their groceries amid the rise and rise of the German discounters Aldi and Lidl. At the same time, however, Waitrose carved out a loyal following of shoppers looking for higher-end goods – polarising the sector.

The Dairy Crest chief executive Mark Allen explained: “He took over at Waitrose at virtually the same time I took over at Dairy Crest, so our careers have run in parallel. During that time he went completely against the trend of trading down and has taken it from a £4bn business to a £6.4bn over his time.

“On a personal level, I couldn’t speak more highly of the man.”

Mr Price will be replaced by the current retail director – and another Partnership lifer – Rob Collins, who helped set up the Waitrose e-commerce operation in 2007 when the supermarket moved away from its sole reliance on Ocado for home deliveries.

The announcement came as Waitrose outperformed its big four rivals again, according to new data. Kantar Worldpanel said its sales in the 12 weeks to October 11 were up 2.1 per cent, compared with a 1.1 per cent boost at Sainsbury’s and falls of 1.7 per cent, 3 per cent and 1 per cent at Tesco, Asda and Morrisons, respectively, as the supermarket price war showed no signs of letting up.

Aldi and Lidl both produced sales jumps of 17.9 per cent, although in the case of the former, the expansion has slowed.