NEWS
John Lewis Partnership CEO to step down
John Lewis Partnership boss Nish Kankiwala is to step back from his Chief Executive role as he reverts back to a Non-Executive Director. Mr Kankiwala will resume his position on the board in March 2025 to support new Chairman, Jason
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Tarry, who succeeded Dame Sharon White last month. Mr Kankiwala said: “I was delighted to agree to take on the role for a two-year period during this time of pivotal change. Since then we’ve refreshed our Partnership strategy to be rooted in “It’s been a privilege to lead the Partnership as CEO during this period of intense transformation. I am hugely proud of what we’ve achieved so far – thanks to the hard work and dedication of our partners. to continue to support him and the board in an advisory capacity going forward.” The former Chief Exec took up the CEO role in March 2023 to help Ms White with the day-to-day running of the business and to “supercharge” its transformation. The John Lewis Partnership, which also owns Waitrose, slashed its pre-tax losses from £59m to
Kylian Mbappé becomes
shareholder in Loewe Technology Football superstar Kylian Mbappé has
announced his latest venture, becoming a shareholder, via the entity Coalition Capital, in the German electronics brand, Loewe Technology.
This strategic investment marks a new chapter for both Mr Mbappé and Loewe, bringing together one of the world’s most recognisable athletes and
a brand synonymous with high-end design and cutting-edge technology. “I’ve always been passionate about technology and innovation,” said Mr Mbappé. “Loewe is a brand that represents dedication, determination, performance and authenticity – values that resonate deeply with me, both the brand reach new heights, especially as it evolves to meet the demands of today’s consumers.” Aslan Khabliev, CEO of Loewe Technology, welcomed the partnership:
transcends sport, making him an ideal partner to help modernise our brand and engage a new generation of consumers. Together, we will combine our heritage in premium electronics with Kylian’s global appeal, driving exciting Loewe is one of the leaders in luxury home entertainment systems, and with the footfall star as a shareholder, the brand said it aims to further strengthen its global position, tapping into new markets and expanding its
AGA Rangemaster cuts staff
It has been reported that AGA Rangemaster has cut its full time staff numbers by 21 per cent amid a fall in revenue from £144.6 million in 2022 to £115.5 million for the 12 months to December 2023. The company said the disappointing performance was down to a “challenging” domestic market – although exports to the US increased by over 22 per cent. A statement signed off by AGA Rangemaster’s Directors said: “The energy, raw materials and component costs. Price increases and pricing margins and the company continues to actively monitor costs. months of 2024, which, combined with global macroeconomic uncertainty can impact customer demand. “The company has faced recent demand headwinds. The company
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