The John Lewis Partnership has announced today that Mark Price is stepping down as Managing Director of Waitrose and from his role as Deputy Chairman and will leave the group on 3 April 2016. Rob Collins, Waitrose's Retail Director, has been appointed to succeed Price when he departs.

Price has worked at the Partnership for 33 years and led the supermarket chain for the last nine years. He becomes the fourth supermarket boss to leave this industry in the last 18 months. Recent reports have suggested he is being lined up to take on the role of Interim Chairman of Channel 4. With Lord Burns set to depart in January, Channel 4 and Ofcom are said have held discussions about appointing Price, who is currently the Deputy Chairman of the TV station.

Collins has been with the business for 22 years, initially with John Lewis in a number of senior roles before moving to Waitrose in 2007 to establish its e-commerce business. In 2010, he was appointed Personnel Director and in early 2012 was appointed Retail Director.

John Lewis’ Chairman Sir Charlie Mayfield said: “Mark is pursuing new opportunities, but he will remain a passionate advocate of the Partnership and its ownership model. He has had a long and distinguished career with the Partnership and his leadership of Waitrose has seen outstanding success. As a member of the Partnership Board for 11 years and Deputy Chairman since 2013, Mark has played a key role in steering the Partnership and has been a valued and trusted colleague.”

He added: “Rob Collins has been a central figure in Waitrose's management team for a number of years and his strong leadership skills and operational success have ensured that he has been a central part of the Board's thinking on succession planning for some time. I'm confident that he will make the step-up to the Managing Director role quickly and effectively.”