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John Lewis boss Peter Ruis to exit, will be replaced by Will Kernan
Ruis announced his departure as John Lewis Partnership prepares for half-year results days after a media briefing he led.
Peter Ruis has announced he is leaving as boss of John Lewis, with the department store chain saying he will step down to pursue new projects. The company said it was keeping John Lewis on a stronger footing, as Ruis exits amid tough trading conditions for the sector.
The Guardian Business reports that the exit comes after days of pressure on UK department stores and while John Lewis faces challenges from shifting shopping habits, including online competition. Spending on big-ticket items such as sofas and beds has also been hit by the high cost of living, the outlet said.
Ruis had previously spoken about possible expansion and a burst of investment that was seen to revive sales, but trading has since grown harder. The report also notes skepticism from people familiar with the company, pointing to a media briefing led by Ruis on 3 September, just days before his planned step down.
Will Kernan, a non-executive board member of the employee-owned John Lewis Partnership, is set to replace Ruis, and he is expected to remain involved ahead of the group’s half-year results, according to The Guardian Business.