John Lewis property director steps down

John Lewis Property & Development Director Chris Harris is stepping down after over five years at the business.

Harris will remain at the company until November and will then look to set up his own investment business to "take advantage of distress in the retail property market", according to The Times.

He is understood to have already received approaches from potential private equity backers.

Harris joined the John Lewis Partership in February 2018. During his tenure, he was part of the £500 million deal with investment company Abrdn to build 1,000 rental homes across the UK.

Prior to this, he served as Property & Procurement Director at Arcadia Group and Vice President Operations & Real Estate at Blockbuster.

Harris’ departure follows a number of recent business moves by the partnership under the leadership of Chairwoman Dame Sharon White.

In February, John Lewis boss Pippa Wicks stepped down after less than three years at the company. Shortly after, Nish Kankiwala was appointed as the first-ever CEO of the John Lewis Partnership.

Earlier this month, White promised to return the partnership to a “sustainable” profit after facing criticism over its leadership and recent financial performance.