Supermarket war unfolds: Waitrose executive James Bailey resigns amid intensifying competition from Marks & Spencer

James Bailey, who has been the boss of Waitrose since 2020, is due to step down next month. His departure comes after a successful tenure, during which he steered the supermarket chain through the pandemic and cost of living crisis.

According to recent figures from market insights firm Worldpanel, Waitrose sales grew 4.8% to £1.6 billion in the three months to August 10. This growth is particularly notable as Waitrose and M&S are currently neck and neck in market share, with Waitrose holding a slight edge at 3.8%, compared to M&S's 3.7%, according to Nielsen IQ. Sales at Waitrose lifted 4.4% to £8 billion.

Bailey's exit follows that of JLP's chief executive Nish Kankiwala, who stepped down last year after two years. Despite this, profits at JLP rose 73% to £97 million for the year to January 25.

Tina Mitchell, a retail veteran with a wealth of experience, will be taking over as the interim boss from September 30. She will be stepping into Bailey's shoes at a crucial time, as Waitrose faces criticism for its 'confused pricing strategy' that 'runs the risk of alienating their affluent core customer base', according to retail expert Jonathan De Mello.

Despite this, the outgoing boss, James Bailey, leaves Waitrose 'in a much stronger position', according to Charlie Mayfield, the chairman of JLP. Bailey is taking a career break after his departure.

It is still unclear who will take over Bailey's position permanently. The identity of the new boss has not been disclosed yet.

In other news, the performance of other investing platforms such as AJ Bell, Hargreaves Lansdown, interactive investor, InvestEngine, and Trading 212 in relation to the JLP or Waitrose has not been provided in the given information.

Supermarket war unfolds: Waitrose executive James Bailey resigns amid intensifying competition from Marks & Spencer