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John Lewis has confirmed that managing director Andy Street will step down from the role at the end of October.

After a 31 year career with the John Lewis Partnership, Andy will officially leave the business on 28 October 2016 after being selected as the official Conservative Party candidate for the office of Mayor of the West Midlands.

John Lewis confirmed that the successor to the position of managing director would be announced in due course.

Sir Charlie Mayfield, chairman of the John Lewis Partnership, said: “Andy has led John Lewis brilliantly and leaves the brand with great momentum for the future. I would like to thank him for his passionate contribution to the Partnership.”

Andy Street said: “It has been a privilege to lead John Lewis through a transformational period in the retail industry, and I am confident that we have built a business which will continue to thrive while being loyal to its principles.

“The success of John Lewis is down to the hard work and dedication of thousands of Partners across the country, and I know that they will continue to serve our customers with distinction.”