John Lewis appoints Nickolds as first female managing director

John Lewis has appointed Paula Nickolds as its first female managing director.

The new MD, who first joined the partnership as a trainee in 1994, was promoted from the role of commercial director and will start work in January once the crucial Christmas trading period is completed.

The top job in the department store chain was left vacant when Andy Street stepped aside to run for political office as mayor of the West Midlands.

He oversaw rapid growth for John Lewis during his nine-year tenure - with the partnership emerging as one of the few winners during the recession which followed the financial crisis.

Strong competition and grocery deflation has since dented profits.

Partnership (LSE: 130756.L - news) chairman Sir Charlie Mayfield said of the appointment: "At a time of transformation in the retail sector, Paula's progressive and dynamic leadership is just what's needed for the next phase of modern retailing."

She (Munich: SOQ.MU - news) said of the new role: "As a partner with 22 years' service, I know just how special the John Lewis Partnership is.

"Driven by our unique business model, and with innovation in our DNA, I am immensely excited to lead John Lewis on the next stage of our journey."