Peter Ruis has resigned as managing director of John Lewis, the British department store chain, effective in mid-September. His departure comes as the company navigates what leadership has described as difficult trading conditions in the retail sector.
Ruis, who returned to the role at the start of 2024, will be succeeded by Will Kernan, a non-executive board member of the John Lewis Partnership, the employee-owned entity that also operates the Waitrose supermarket chain. Kernan brings extensive retail experience from previous leadership positions at River Island, The White Company, Wiggle, and New Look, and has served on the John Lewis board since 2023.
The timing of the resignation follows comments from John Lewis chair Jason Tarry warning of “really tough” trading conditions. The retail environment has been pressured by rising inflation linked to geopolitical tensions and elevated oil prices, straining both consumer spending and retailer costs. This contrasts with more optimistic conditions earlier in the year when the company distributed its first annual bonus to employees in four years, with staff sharing a £35m bonus pool.
During his tenure, Ruis oversaw investment in the company’s 36 remaining department stores following closures during the pandemic and previously indicated expansion plans. The incoming managing director has stated that John Lewis possesses “significant headroom for growth” and emphasized the company’s position as a trusted retailer. The transition occurs as the business prepares for the peak Christmas trading season.
Separately, the Co-op Group announced that its chair Debbie White would step down following a period that included managing recovery from a major cyber-attack. An interim chair has been appointed as the group seeks a new permanent chief executive.
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