John Lewis MD Peter Ruis Departs Amid 'Tough Trading' as Will Kernan Steps In

Peter Ruis, the Managing Director of John Lewis, is set to step down in September 2026, marking a significant leadership change for the iconic British department store chain after less than three years in his second tenure. His departure comes as the John Lewis Partnership, which also owns Waitrose, grapples with 'really tough' trading conditions, paving the way for former River Island and The White Company chief, Will Kernan, to take the helm. This orderly succession aims to navigate the company through a challenging economic landscape. Ruis, who returned to John Lewis in January 2024, has been credited with spearheading a major modernisation drive, including a significant £800 million investment programme across its stores and digital platforms, aiming to enhance customer experience and satisfaction. However, the broader UK Retail Sector faces persistent headwinds; with inflation remaining above the Bank of England's target at 3.4% in December 2025 and cautious Consumer Spending, retailers are under immense pressure from rising costs and squeezed margins. John Lewis Partnership chairman, Jason Tarry, recently acknowledged these difficulties, stating the company must adjust to an 'immediate future' of lower sales and higher costs. Will Kernan, currently a Non-Executive Director on the Partnership board, is expected to take over in mid-September, just ahead of the crucial Christmas Trading Period. His appointment signals a push to continue John Lewis Transformation Plan and build on its employee-owned model amidst these pressures. The Partnership, while reporting improved financial performance in 2024/25 and increased sales in 2025/26, also noted a loss before tax in its most recent full-year results due to exceptional charges. The retail giant's ability to maintain its strategic investments and adapt to evolving consumer behavior will be key as Kernan leads the charge in this fiercely competitive market.