- Peter Ruis has stepped down as Managing Director of John Lewis after less than three years, citing a desire to pursue new projects, as confirmed by the company in a statement.
- Will Kernan, currently a non-executive board member, will take over as Managing Director in mid-September.
- Peter Ruis will remain with the business until September 6 to ensure a smooth transition.
- Jason Tarry, John Lewis chair, recently warned of 'really tough' trading conditions in an interview.
- Peter Ruis returned to John Lewis in January 2024 after holding leadership roles at other retailers, including Jigsaw and Anthropologie.
- In March, John Lewis paid its 69,000 workers an annual bonus for the first time in four years, following a rise in underlying profits.
Peter Ruis has announced his resignation as managing director of John Lewis after nearly three years, stating he will pursue new projects.12
Ruis, who returned to the company in January 2024, has overseen significant modernization efforts, including the renovation of stores and the launch of new brands.
“After nearly three years of significant investment and modernisation, the business is now on a much stronger footing,” Ruis said.
He will remain in his position until September 6, with Will Kernan, a non-executive board member since 2023, set to take over in mid-September. Kernan expressed optimism about the company's future, stating, “We have significant headroom for growth.”3456
The transition comes amid challenging trading conditions, as highlighted by Jason Tarry, Chairman of the John Lewis Partnership, who noted the need for adjustments due to unexpected economic pressures.7
John Lewis had previously shown confidence in its financial outlook, distributing a £35 million bonus to its 69,000 employees earlier this year. However, rising inflation and increased costs have put pressure on consumer spending.
“We have to adjust for an immediate future that we weren’t expecting even six months ago,” Tarry remarked.
As Kernan prepares to lead the company into the crucial Christmas trading period, the Partnership will also seek a successor for Kernan's non-executive role.
“Ruis's departure follows a warning from chair Jason Tarry that the retailer must adjust to an 'immediate future that we weren't expecting even six months ago.' The transition comes as John Lewis prepares for its Christmas peak, with Kernan bringing 35 years of retail leadership including CEO roles at River Island and The White Company.”
Oxford Mail
The Guardian
