John Lewis slams Theresa May’s corporate governance plans

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The John Lewis Partnership has spoken out about Prime Minister Theresa May’s plans to put more workers in boardrooms.

The parent company of the eponymous heritage department store said the introduction of more employees to company boardrooms would not mean a “strong system of corporate governance”.

“The partnership’s approach to corporate governance is effective due to the wider system of accountability which results from the business’s ownership structure,” John Lewis said in response to May’s keynote speech at the Conservative Party conference.

READ MORE: Mark Lewis quits role as retail director at John Lewis

In the wake of the collapse of BHS and public controversies surrounding working practices at Sports Direct, May announced a new inquiry into corporate governance practices in big business.

John Lewis is one of many major businesses to provide evidence for the landmark enquiry into corporate governance alongside the Institute of Directors, the British Bankers’ Association and the union Unite.

The partnership is owned by 89,000 partners, employees who own a share the company. 

Last week John Lewis welcomed new boss Paula Nickolds, its first female head of the retailer in 152 years.

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