John Lewis Partnership reshapes leadership amid turnaround efforts

In the United Kingdom, the John Lewis Partnership has announced a significant restructuring under new chair Jason Tarry, leading to the elimination of the chief executive role held by Nish Kankiwala. This decision comes shortly after Tarry took over from Sharon White, who will continue to advise until the end of December. The company, which operates the Waitrose supermarket chain and 34 department stores, has faced challenges due to the pandemic and the ongoing cost of living crisis. Kankiwala, who was appointed as CEO 18 months ago, will transition back to a non-executive director position by March 2025, supporting Tarry and the board. The company emphasized that the decision reflects the progress made in its transformation efforts over the past two years, particularly in adapting to changing market conditions. Tarry, with extensive experience from Tesco, is expected to lead a review of the partnership's operations, including its department stores and financial services, which have been underperforming. The restructuring also comes amid potential job cuts, as the company considers reducing its workforce by up to 11,000 over the next five years. This move highlights the ongoing challenges faced by the retail sector in the UK and the need for strategic changes to ensure long-term sustainability.