John Lewis managing director steps down amid tough trading warnings

Peter Ruis is set to leave his role as managing director of John Lewis department stores at the beginning of September, ending a tenure that lasted less than three years following his return in January 2024. The departure comes shortly after Jason Tarry, chair of the Partnership which also owns Waitrose, cautioned staff about impending difficulties including reduced sales and increased costs.

The group confirmed Ruis will depart to pursue new projects while an orderly succession plan is implemented. Will Kernan, a former chief executive at The White Company who currently serves as a non-executive director on the board, has been appointed to take over in September. Ruis stated he would be leaving after securing a stronger position for the business through significant investment and modernisation efforts.

During his time in charge, Ruis oversaw the reinstatement of the iconic never knowingly undersold pledge and directed an eight hundred million pound programme designed to reboot stores across the United Kingdom. He described the initiative as replacing old-fashioned department store formats with more experiential environments. However, the retailer has faced challenges from online competitors over recent years.

Tarry noted that despite posting increases in sales and profit earlier this year, the organisation remains cautious due to a challenging macroeconomic environment. In an internal interview reported by the Financial Times, he explained that adjustments were necessary for future conditions not anticipated even six months ago. He emphasised maintaining focus on margin improvement and stock control rather than solely chasing top-line revenue growth.

Kernan adopted a positive tone regarding his appointment, expressing confidence in available headroom for growth while aiming to ensure the retailer remains trusted both online and in physical stores. Elsewhere on the high street, Co-op announced that chair Debby White will depart once her current term concludes after just four months following the exit of chief executive Shirine Khoury-Haq.

White indicated she could not commit to another three-year term upon completion of her tenure. In March, Khoury-Haq stepped down amidst claims regarding a toxic culture within the business which she stated were unrelated to her own departure.