What: Following the abrupt departure of Pippa Wicks, the JLP has chosen a new CEO with great brand experience but little retail background.

Why it is important: John Lewis is expanding into new territories, including housing, and its ability to carry properly this diversification remains to be seen.

John Lewis Partnership, the owner of John Lewis department stores and Waitrose supermarkets, is facing a decline in results and Sharon White, the chairwoman, has appointed a new management team. It includes Nish Kankiwala as the group CEO, with brand experience but little retail pedigree, and five other directors, who will report directly to him.

The company is expected to announce its second full-year loss, with pre-tax losses of over $60m, largely due to poor trading at Waitrose supermarkets (compared with a profit of $219m last year).

Among the upcoming challenges, some new ventures, such as smaller John Lewis outlets and a venture in real estate, launched by Pippa Wicks, the previous CEO, will have to be followed up. This is a big gamble for John Lewis Partnership, which until recently was a department store anchor that every mall wanted, but has now been hit by the cost of living crisis.

Management shuffle at the John Lewis Partnership