Will Kernan joins John Lewis after helping River Island overcome the pandemic and return the retailer to profitability. Photo: John Lewis Partnership
Dam Sharon White, chairman of John Lewis, said Mr. Kernan will play a «significant role» in transforming John Lewis as she seeks to stem losses.
She added that John Lewis was «fortunate to have his extensive experience and knowledge». » as the company embarks on a major cost reduction.
The latest appointment comes at a time when John Lewis is battling a return to profits. Earlier this year, John Lewis said the company intends to cut £600m of incremental business costs on top of the already cut £300m.
Mr. Kankivala, who is also an economic recovery expert, has been appointed to lead this effort.
John Lewis Chairman Sharon White praised Mr. Cernan's «extensive experience and knowledge» in the retail industry. Photo: Jason Alden/Bloomberg
In March, Dame Sharon said she would step up cost-cutting measures after losses rose to more than £230m in the year to February, from £27m a year earlier.
He turned down employee bonuses for only the second time in his history, after warning that inflation was «hiking like a hurricane.»
Mr. Island was also the chief executive of The White Company and Wiggle, an online bike retailer. He is currently chairman of interiors brand Neptune.
During his career, Mr. Kernan has crossed paths with private equity firms including Apax, Permira and Bridgepoint.
John Lewis has previously stated that he is considering bringing in an outside investor to raise cash. The move will weaken the decades-old model of employee ownership.
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