John Lewis chief executive to step back next year as role to be scrapped
Nish Kankiwala will return to a non-executive role next March, leaving new chairman Jason Tarry to lead the board and day-to-day running of the group.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.John Lewis Partnership boss Nish Kankiwala is to step back from the role of chief executive following the appointment of new chairman Jason Tarry at the helm, the group has announced.
The employee-owned retailer, which runs the department store chain and Waitrose supermarket arm, said Mr Kankiwala will revert to the role of non-executive in March next year and the post will be scrapped.
Mr Tarry – a former Tesco UK boss who took over as chairman of the group from Dame Sharon White on September 16 – will lead both the board and day-to-day running of the group after a handover with Mr Kankiwala.
Mr Kankiwala has been chief executive since March 2023, when the role was created by Dame Sharon.
He said he agreed to take on the post in March 2023 for two years as the group embarked on a major turnaround plan and to help see it through an “intense transformation”.
“This was in view of such a significant time for the partnership and to help accelerate this phase of the transformation,” he said.
“Since then we’ve refreshed our partnership strategy to be rooted in retail; significantly improved our cash flows to enable record investment for growth; and returned the partnership to full-year profit.”
He added: “I have every confidence in Jason taking the partnership from strength to strength in the next phase of our transformation and am delighted to continue to support him and the board in an advisory capacity going forward.”
Mr Tarry said Mr Kankiwala had been “instrumental in accelerating the transformation of the partnership”.
“It’s a pleasure to work alongside Nish and I’m grateful that he has agreed to stay on as a non-executive board adviser and his ongoing support will be invaluable,” he said.
Dame Sharon officially handed over the reins last month, but remains with the group until the end of the year.
John Lewis revealed last month it had sharply narrowed half-year losses and forecast that annual profits would be “significantly” higher.
It reported pre-tax losses of £30 million for the six months to July 27, down 49% on the £59 million reported a year earlier.
The group also last month brought back its “never knowingly undersold” price pledge in a major U-turn after ditching the commitment two years ago over concerns it was less relevant to shoppers.