The parent company of the John Lewis department store chain and Waitrose supermarket has hired retail veteran, Nish Kankiwala, as its first CEO in its 94-year history. Kankiwala, who is a former Hovis and Burger King executive, will report into Dame Sharon White who will remain as chair. The group says the appointment will help the business “thrive for another century” amid a transformation plan to turnaround its ailing fortunes. Last year it made a loss as it faced rising costs and cost-conscious consumers as well as stiff competition from rivals like M&S and Next. John Lewis is almost halfway through a five-year plan to cut costs and diversify into other areas such as financial services to compensate for declining margins in its core retail business.