John Lewis axes CEO position, higher profit forecasts show “even keel” achieved

Nish Kankiwala is no longer the CEO of John Lewis, as the position has been removed by the organisation.

Kankiwala took the role in 2022, as part of an emergency plan implemented by the business.

Following the apparent success of the ‘turnaround plan’, with higher profits forecast by the company, he will revert to a non-executive role and chairman next March.

Jason Tarry will chair the executive team as well as the partnership board. 

John Lewis recorded pre-tax profit of £42m for the year to March, and reported that it is on track for higher profits this year.

Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: “The appointment of Nish Kankiwala was part of an emergency plan designed to inject more energy into the pursuit of profits at John Lewis.

“Now the turnaround plan has put the partnership on a more even keel, the chairman’s captaincy role is coming to the fore again.

“Jason Tarry will be solely responsible for steering the John Lewis ship forward, without the complication of another layer of leadership.