“I love being the underdog,” declares Nish Kankiwala, his words carrying the weight of decades spent proving doubters wrong. “It's always that element of being the underdog, being the one that nobody believes can actually win. And when you have that, you want to prove everybody wrong and turn businesses around.”
This fighting spirit was forged in the crucible of 1960s Britain, where a young Kankiwala watched his Indian immigrant parents navigate a hostile environment.
“My mother and father came over for a better life, but had no real money... Every few months we would get moved on because obviously we were slightly the ‘wrong hue of colour’,” he revealed at the Asian Business Awards 2024.
A chemical engineering graduate from University College London, he demonstrated an early aptitude for transformation – from the technical rigours of engineering to the demanding world of corporate strategy. His talent caught the eye of global giants – 15 years at Unilever followed by a decade at PepsiCo, where within just six months, he was handpicked to work alongside the legendary Indra Nooyi.
As president of Burger King and later as chief executive of Hovis, he successfully implemented brand turnaround strategies.
But it was in March 2023 that Kankiwala faced perhaps his most daunting challenge: becoming the first-ever chief executive of John Lewis Partnership, Britain's largest employee-owned group, which runs John Lewis department stores and the upmarket Waitrose supermarket chain.
Founded in 1929, the iconic retailer was haemorrhaging money, having posted three consecutive years of losses. He faced a formidable mix of declining profits, surging costs, and shifting consumer habits – all against the backdrop of a post-pandemic economy.
Many questioned whether this outsider could preserve the soul of a beloved British institution while steering it back to profitability. But, Kankiwala's response was characteristically bold. He launched an ambitious £900 million cost-saving programme, made the controversial decision to suspend the staff bonus – a cornerstone of the firm’s cooperative identity – and ushed for aggressive modernisation through e-commerce and diversification.
“While I had a view as to how I could do it, it's fundamentally the sheer determination to prove people wrong,” he recalled.
That determination paid off. Last year, the company had achieved its first annual pre-tax profit in three years, reversing a £99 million loss. The company is now projected to reach £400 million in annual profit by 2028.
In October 2024, John Lewis Partnership abolished the chief executive role, bringing Kankiwala’s tenure to an end, as it decided to return to its traditional management structure, led by the chair of the partnership. Kankiwala will step down in March, although he will remain an adviser to the business in his capacity as a non-executive director.
Perhaps most surprisingly for a turnaround specialist, Kankiwala has proven himself to be a champion of sustainable business practices. At John Lewis Partnership, he drove initiatives for 100 per cent renewable energy adoption and supply chain waste reduction, showing that profitability and environmental responsibility need not be mutually exclusive.
He's also emerged as an outspoken voice on government policy. In November 2024, he delivered a stinging critique of the government's budget, calling it a “two-handed grab” from businesses.
As one of Britain's most prominent South Asian business leaders, he has consistently advocated for greater diversity in corporate leadership. His own journey – from facing discrimination in childhood to leading one of Britain's most cherished retailers – serves as a powerful testament to breaking barriers.
