This book includes a plain text version that is designed for high accessibility. To use this version please follow this link.
John Lewis Partnership plc annual report and accounts 2012


The Committee is also responsible for overseeing the process of nominating and appointing the Chairman and Deputy Chairman in accordance with the Articles of Association of John Lewis Partnership Trust Limited. It also oversees the Chairman’s proposals for any appointment of and the succession planning process for executive directors and senior management. It identifies and recommends for the approval of the Board, candidates as non-executive directors.


The ongoing training and development requirements of the Board directors, both individually and as a whole, are monitored by the Committee in order to ensure that directors are properly equipped to fulfil their statutory responsibilities.


Employees


The Constitution of the John Lewis Partnership provides for the democratic involvement of employees, known as Partners, as ‘co-owners’ of the business. They are therefore provided with full information on all aspects of the business operations and are encouraged to have an active interest in promoting its commercial success. Elected councils and forums at all levels of the business provide regular opportunities for management to report to Partners. This provides opportunities to question management on any subject, while an open system of journalism both contributes to effective accountability and provides a means of sharing information extensively with all Partners.


The aim is to ensure that the co-owners are given the information they need to be able to decide whether the Chairman, the Partnership Board and management are being effective. This is through the Partnership’s publications, including the weekly Gazette, and through its democratic elected bodies, in particular the Partnership Council.


Partners also receive an annual distribution of the profits of the business through Partnership bonus.


All employees can benefit from the Partnership’s training and development policies, and further information on these can be found on pages 17 and 18. The Partnership recruits people with disabilities to suitable vacancies on merit. Where disability occurs during the period of employment, every effort is made to continue to provide suitable employment with the provision of appropriate training.


The John Lewis Partnership seeks to embrace diversity and this is reflected in all we do. The Board is therefore committed to providing equal opportunities for all in employment at all levels of the organisation, regardless of individual differences such as gender and ethnic origin.


Company Secretary


 The Director of Legal Services and Company Secretary, is responsible for advising the Board on all corporate governance matters, ensuring that Board procedures are followed, ensuring good information flow, facilitating induction programmes for directors and assisting with directors’ continuing professional development. All directors have access to the advice and services of the Director of Legal Services and the Company Secretariat.


Financial risk management and insurance, treasury and tax policies


 The Board approves the group’s financial risk management, insurance, treasury and tax policies, which are delegated to the Partnership’s Finance Director to implement and control. Further details of the group’s financial risk management arrangements are provided in the Business Review and note 22 to the financial statements.


Payments to suppliers


 The Partnership’s policy on the payment of its suppliers is to agree terms of payment in advance and, provided a supplier fulfils the agreement, to pay promptly in accordance with those terms. The Partnership’s trade creditors at 28 January 2012 were equivalent to 27 days of average purchases (2011: 24 days).


Corporate Social Responsibility


 The terms of the Partnership’s Constitution clearly define the behaviour expected towards customers, suppliers, the environment, the wider community and its Partners. Corporate Social Responsibility (CSR) programmes and governance structures have been developed from these provisions and the principal responsibility for managing and co-ordinating social, ethical and


37

Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90