Mark Price steps down as Waitrose MD

Mark Price has unexpectedly announced he's leaving the John Lewis Partnership, stepping down as managing director of Waitrose and deputy chairman of the group.

The company confirmed the move on Tuesday, and said Price would leave the partnership at the beginning of April 2016.

Sky News reported last week that Price is poised to become interim chairman at Channel 4 when Lord Burns steps down early next year, and the BBC understands he wants to apply for the role permanently.

John Lewis chairman Sir Charlie Mayfield confirmed Price 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."

Waitrose's retail director Rob Collins has been appointed to take over as managing director when Price steps down.

"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," Sir Charlie Mayfield noted.

Survey data from Kantar Worldpanel out on the same day revealed that Waitrose's market share was unchanged at 5.2% in the 12 weeks ending on 11 October.