Andy Street, the veteran boss of John Lewis, is to step down from the department store chain after he was this evening selected as the Conservative candidate to run as the mayor of the West Midlands.

Mr Street, who has spent his entire career at the John Lewis Partnership, the chain’s parent group, will leave the retailer at the end of October.

Oxford-educated Mr Street has been with the partnership, which also owns Waitrose, for more than 30 years.

He started as a graduate trainee and has been managing director of the John Lewis division since 2007.