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John Lewis Partnership: Chairman Proposes Restructure

John Lewis and Waitrose - and partners 725 x 500.jpg

Sir Charlie Mayfield, the outgoing chairman of the John Lewis Partnership, is understood to have created a plan to restructure the business.

The Sunday Times reports that the plans will be unveiled in the weeks ahead and before the new chairman - Sharon White - joins the business in 2020.

The plans are understood to minimise the duplication across the John Lewis and Waitrose businesses, which are currently run as separate entities.  It is thought that the Partnership pension scheme will be reviewed as part of the planned changes.

The article reports that the Partnership has a Partnership Council which must be consulted if any plans propose that 12 or more Partners - the term used for staff members, who are co-owners of the business - would be made redundant.

Both John Lewis and Waitrose have independent buying, finance, HR and marketing teams.  The operating boards of each business report into the Partnership board.  Furthermore, the Partnership has three head offices: one each for Waitrose and John Lewis and another one for shared services. 

The John Lewis Partnership recently reported a first half-year loss of £25.9m. 

Source : Insight DIY Team

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23 September 2019

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