Key facts
- Peter Ruis is stepping down as managing director of John Lewis.
- Will Kernan will succeed Ruis in September.
- The departure follows warnings of difficult trading conditions.
- Ruis stated he is leaving to pursue new projects.
- John Lewis has invested in modernization and a 'never knowingly undersold' pledge.
Peter Ruis, the managing director of John Lewis, is set to step down in September after less than three years in the role. His departure comes as the British department store chain faces challenging trading conditions, with chair Jason Tarry recently warning of unexpected economic downturns impacting sales and increasing costs. Ruis stated he is leaving to "pursue new projects" and that the business is on a "much stronger footing" following nearly three years of significant investment and modernization. This included an £800 million store reboot program and the reintroduction of the "never knowingly undersold" pledge. Despite these efforts, John Lewis, which operates 34 department stores, has faced intense competition from online retailers. Will Kernan, a non-executive director of the John Lewis Partnership since 2023 and former CEO of retailers including River Island and The White Company, will succeed Ruis. Kernan expressed confidence in "significant headroom for growth" and aims to ensure John Lewis remains a trusted retailer. In separate news, the Co-op Group announced that its chair, Debbie White, is also stepping down after two years, with the senior independent director Moni Mannings appointed interim chair. This follows the March departure of Co-op CEO Shirine Khoury-Haq amid allegations of a "toxic culture."