86


John Lewis Partnership plc Annual Report and Accounts 2015 Our governance approach (continued)


Who owns the Partnership?


John Spedan Lewis, the founder of the Partnership, transferred his shareholding and the ownership of the Partnership into a trust to be held for the benefit of all Partners. John Lewis Partnership Trust Limited (the Trust Company) is the appointed Trustee of the Trust and is the ultimate holding company of the Partnership.


More information about the Trust Company can be found on page 89,


What is the role of the Constitution?


The Constitution defines mechanisms which allow the Partnership to be run fairly and effectively, with checks and balances to ensure accountability, transparency and honesty. These mechanisms, which include a series of delegated authorities, also ensure that the views of Partners are heard.


The Constitution defines three governing authorities:


a The Partnership Council Roles and responsibilities are set out on page 96 to 99 of the Partnership Council report


a The Chairman Roles and responsibilities are set out in this report


a The Partnership Board Roles and responsibilities are set out in this report


Provides governance and assurance to Entrusts management of the business to Delegates management authority to


The Chairman


Partnership Council


How is corporate social responsibility (CSR) and sustainability governed?


Partnership Board


Our Director of Personnel, Tracey Killen, has principal responsibility for leading and co-ordinating sustainability in the Partnership. Operational management responsibility for sustainability is delegated from the Chairman to the Managing Directors of John Lewis and Waitrose, who in turn delegate responsibility to Management Board members within the divisions.


Cross functional steering groups, such as the Partnership’s Environmental Steering Group and the Partnership and divisional CSR and Community Investment Committees, then focus on key cross-divisional issues.


The Constitution established the representation of the co-owners on the Partnership Board through the election of Partners as Directors (Elected Directors) and it also determines the role of the Partners’ Counsellor. See pages 90 and 91 for more detail on their roles.


The Constitution may be amended or cancelled by agreement between two thirds of the voting membership of the whole Partnership Council and the Chairman.


The governance of CSR is overseen by the Chairman’s Committee. The Partnership Board considers CSR issues as and when appropriate, but at least once a year. In 2014/15, the Chairman’s Committee reviewed the Partnership’s approach and results from the sustainability materiality assessment.


The assessment process involved interviews with senior management across the Partnership, as well as our key stakeholders, to understand what matters most to them, the business and wider society. See page 6 for more information on the issues identified and visit www.johnlewispartnership.co.uk for information on the Partnership’s stakeholder engagement around these issues.


In 2015/16, the Partnership will continue to strengthen the governance structure to ensure the appropriate management of material issues key to the Partnership’s sustainability.


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