John Lewis MD stands down to pursue political career

Andy Street, managing director of department store group John Lewis, has stood down following confirmation of his nomination as the official Conservative Party candidate for the office of Mayor of the West Midlands.

Street, who has been with the business for 31 years, said it had been a "privilege" to lead John Lewis through a transformational period in retail.

"I am confident that we have built a business which will continue to thrive while being loyal to its principles," Street said. 'The success of John Lewis is down to the hard work and dedication of thousands of Partners across the country, and I know that they will continue to serve our customers with distinction."

Chairman of the company Sir Charlie Mayfield said: "Andy has led John Lewis brilliantly and leaves the brand with great momentum for the future. I would like to thank him for his passionate contribution to the Partnership."

Street leaves the retailer on 28 October and his successor will be announced "in due course" the company said.

Yesterday John Lewis opened the doors of its first store in Essex, in the Bond Street development in Chelmsford; the opening to its total store count to 47.