The John Lewis Partnership has confirmed that James Bailey will step down as Waitrose managing director at the end of September, after more than five years leading the supermarket.

The grocery retailer said Bailey, who joined in 2020, steered Waitrose through the pandemic and the cost-of-living crisis, and leaves the supermarket with achievements including record customer numbers, strong sales growth and a turnaround in profitability.

Partnership chairman Jason Tarry praised Bailey’s leadership during “a period of change,” saying he had overseen “significant transformation and growth” and would leave the business in a stronger position.

Tarry said: “We will be sad to see James go, but understand and respect his decision to step down after five and a half years at the helm. James will leave Waitrose in a much stronger position, and I know he will be missed by everyone.”

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Bailey described his time at Waitrose as “a great privilege” and said the retailer was now “back on a very strong footing” with the foundations laid for long-term success.

He added: ” I’m very proud of everything we’ve [Waitrose] achieved together; it’s been a lot of hard work but very rewarding and I’m so happy now to see the business thriving.

“Waitrose is back on a very strong footing with record customer numbers, strong sales growth and a turnaround in profitability so after five and a half years this feels like the right time to hand over the reins. I feel confident that we’ve laid the foundations for long term success and have the opportunity now to go from strength to strength”

The supermarket chain revealed retail director Tina Mitchell will become interim MD once Bailey steps down, while the Partnership begins the process of appointing his successor.