John Lewis CEO to step back from role as chairman takes on duties

(Sharecast News) - John Lewis Partnership chief executive Nish Kankiwala is stepping back from his role next spring, the retail company announced on Monday. New chair Jason Terry will take on a larger role, including managing day-to-day affairs at the company, which runs John Lewis department store chain and the Waitrose grocery arm. Kankiwala will go back to his role as a non-executive director.

Kankiwala became chief executive in March last year after then-chair Sharon White created the role. She left in September after criticism over store closures, a venture into property and the axing of staff annual bonuses.

Reporting by Frank Prenesti for Sharecast.com