The John Lewis Partnership (JLP), parent company of UK retailer Waitrose, has announced that executive finance director Bérangère Michel will be stepping down from her position later this year.

Bérangère (known as Bey) has spent the past 16 years in various senior leadership positions across retail, supply chain and customer operations in both John Lewis and Waitrose, and most notably as executive director for finance.

As both an executive and a board director for the Partnership, Bérangère has supported the “improved performance and long-term financial health” of the business, leaving the Partnership on a “strong footing” as a result.

Bérangère Michel, executive director for finance, said: “After 16 fantastic years in the Partnership, and with the business on a strong financial footing with funding secured for the next phase of the plan, it feels like the right time to move on. So I have decided to leave to pursue other opportunities.

“I have loved every moment of my time in both Waitrose and John Lewis and am extremely grateful for a varied, exciting and impactful career across supply chain, shops, finance and many other teams. I would especially like to thank Partners for making the Partnership a truly special place. I will continue rooting for the Partnership, its great customer service and co-ownership model.”

Nish Kankiwala, CEO of the John Lewis Partnership, said: “I would like to personally thank Bey for her remarkable contribution to the Partnership over 16 years – and most recently for the critical role she has played in co-creating our refreshed plan and new operating model for the business.

“Her passion for our unique model and commitment and dedication to securing our long-term success have been unwavering. I know Bey will be missed by everyone in the Partnership.”

A process of recruitment to appoint Bey’s successor will now begin. Bey is expected to leave the Partnership by the autumn.