John Lewis managing director Peter Ruis steps down after under three years

Peter Ruis, managing director of British department store chain John Lewis, has announced he is leaving the role after less than three years to pursue new projects, the company said on Monday.

The departure comes shortly after John Lewis Partnership chair Jason Tarry warned in the company's in-house magazine that trading conditions were "really tough," saying the business had to adjust to circumstances that were not anticipated even six months earlier.

In March, the company had felt confident enough about the economic outlook to pay its 69,000 staff, known as partners, an annual bonus for the first time in four years, following a rise in underlying profits. Workers shared a £35m bonus pot, worth roughly a week's extra pay each. Since then, however, the US-Israeli war on Iran has driven up oil prices and inflation, squeezing shoppers and raising costs for retailers.

Ruis returned to John Lewis at the start of 2024 after leading retailers including Jigsaw and Anthropologie, having previously spent nine years as the company's buying and brand director. Under his leadership, the business invested in the 36 John Lewis stores that remained after 16 were closed during the coronavirus pandemic, and as recently as November he spoke of plans for further expansion.

Ruis will remain in post until 6 September. He will be succeeded by Will Kernan, a non-executive board member since 2023 who previously led River Island, The White Company and Wiggle, and spent 13 years at New Look. Kernan will take over in mid-September, ahead of the retailer's key Christmas trading period.

In statements, Ruis, Kernan and Tarry each praised the progress made and expressed confidence in the business's future growth. Separately, the Co-op Group announced on Monday that its chair, Debbie White, is stepping down after two years in the role.