John Lewis managing director Peter Ruis is stepping down after less than three years in the role, leaving the department store chain "to pursue new projects". He will be succeeded by Will Kernan, a former River Island boss who currently sits on John Lewis's board as a non-executive director, in what the company describes as an "orderly succession plan". The departure comes as the retailer faces mounting financial pressure, with chair Jason Tarry recently warning staff of "really tough" trading conditions squeezing profits.

Ruis returned to John Lewis as managing director in January 2024 after previously serving as buying director, and will remain in post until 6 September, with Kernan taking over in mid-September ahead of the crucial peak trading season. The wider John Lewis Partnership swung to a pre-tax loss of £21 million in the year to January, down from a £97 million profit, largely due to £120 million in one-off write-down costs, even as John Lewis sales rose 3 per cent to £4.9 billion and Waitrose sales climbed 7 per cent to £8.5 billion. The group has also been cutting costs elsewhere, including a consultation on up to 200 job losses tied to closing bureau de change and gift-wrapping desks, on top of 3,300 roles cut last year and the scrapping of its housebuilding division.