john-lewis-partnership-plc-annual-report-2015

Recommendations

Info

102 John Lewis Partnership plc Annual Report and Accounts 2015 Chairman’s Nominations Committee report (continued) Alan Buchanan was appointed as Interim Director of Legal Services and Company Secretary with effect from 31 July 2014 and subsequently the Committee oversaw the recruitment process for the permanent position which resulted in the appointment of Keith Hubber as General Counsel and Company Secretary with effect from 1 February 2015. Hedley May were chosen as the external search consultancy to assist with the search for suitable candidates both for the interim and permanent positions. Hedley May have no other connection with the Partnership. Diversity and Inclusion Policy As part of its oversight of the recruitment of Executive Directors and the General Counsel and Company Secretary, the Chairman’s Nominations Committee ensures that candidates are considered on merit and against objective criteria, and with due regard for the benefits of diversity on the Board, including gender. The Partnership has a Diversity and Inclusion Policy which applies to all Partners and a clear action plan which aims to encourage an inclusive and vibrant community of Partners. During the year under review, the Partnership Board monitored progress against the plan and obtained assurance on compliance with the Diversity and Inclusion Policy. The Partnership Board has adopted a Diversity Statement, as set out to the right, regarding the composition of the Partnership Board, the aims of which are supported by the Diversity and Inclusion Policy. Diversity statement We are an inclusive business which stems from our ownership model and our Constitution. Being an inclusive business goes to the heart of our ultimate purpose: the happiness of our members through their worthwhile and satisfying employment in a successful business. aa The composition of the Partnership Board should reflect the diverse population of the Partnership. aa All Board appointments are based on merit against objective criteria in order to enhance the Board’s overall effectiveness. aa Maintain a healthy balance of female Directors on the Partnership Board. Our current ratio is 40% women. aa Candidates for appointment as Non- Executive Directors will be drawn from diverse sources and ‘long lists’ will always include female and minority candidates. aa We will only use search firms who have signed up to the voluntary code of conduct on gender diversity and best practice. The Partnership has a Diversity and Inclusion policy which applies to all Partners and we have a clear action plan which aims to encourage an inclusive and vibrant community of Partners. Our Partnership Board Diversity policy reflects that policy. The Board policy has the following objectives: aa Successful Non-Executive Director candidates will be committed to the Partnership’s values, principles and ethos and have a strong practical and commonsense approach. aa Our pipeline of internal board talent will have opportunities to gain experience and an understanding of working inclusively, and not just within our own business. aa Measurement against these objectives and assurance on broader Partnership diversity is reported annually to the Board. aa The Chairman’s Nominations Committee monitors the structure, size and composition of the Board to ensure due regard is given to diversity. The Partnership Board recognises and embraces the benefits of having a diverse Partnership Board and the principles of the Diversity and Inclusion Policy apply equally to the Board. As at the date of this report, six of the 15 members of the Partnership Board are female. Through the Chairman’s Nominations Committee, the structure, size, composition and balance of the Board (including skills, knowledge, experience and backgrounds) are monitored, to ensure that when considering Board candidates, due regard is given to the benefits of diversity, including gender, ethnicity and other characteristics protected by the provisions of the Equality Act 2010. Ultimately, all Board appointments are made on merit against objective criteria in the context of the skills and experience required for them to be effective. It is not the Board’s policy to set specific targets by legally protected characteristics such as gender.
Annual Report and Accounts 2015 John Lewis Partnership plc 103 Induction and training During the year, the Committee reviewed and updated the induction programme for Executive, Non-Executive and Elected Directors. At the request of the Committee, a review of Director training and development to meet the needs of the Board tailored to meet the requirements of the three specific cohorts, Executive Directors, Non-Executive Directors and Elected Directors, was undertaken. In light of the two new Non-Executive Directors, Denis Hennequin and Keith Williams, joining the Partnership Board, the opportunity was also taken to review their induction into the Partnership. Induction training is provided internally and includes the Partnership’s governance mechanisms and meetings with all Directors and senior Partners who support the Partnership Board agenda. The training programme for Directors includes external training courses to support development and to gain external insight on topics covered by the Partnership Board. Committee evaluation During the year, the Committee undertook an internal evaluation of its own effectiveness facilitated through the “Thinking Board” on-line self-assessment tool provided by Independent Audit Limited and supported by interviews with the Committee members conducted by the Interim Director of Legal Services. The key recommendations of the 2013/14 evaluation had been to review the role and responsibilities of the Committee, and the role of management that supports and provides assurance to the Committee, so that they are clearly defined and reflected within the Committee’s Terms of Reference. The Terms of Reference for the Committee were subsequently reviewed in light of this recommendation. As a result one of the key areas the 2014/15 evaluation was designed to assess was how effective this review had been. This year’s evaluation review concluded that the new Terms of Reference for the Committee provided greater clarity identified as being required in the previous years’ evaluation. Other key results of the 2014/15 evaluation included agreement that the Committee had a healthy dynamic, where members are contributing and challenging freely and constructively. Meeting agendas were appropriate and that the right mix of skills, experience and diversity of perspectives exists on the Committee. One area for development and focus for improvement in 2015/16 was identified as continuing to look at the scope of information that the Committee receives to ensure reports presented to the Committee provide appropriate information to enable the Committee to fulfil its responsibilities. The Committee concluded that it has acted in accordance with its Terms of Reference and is performing its duties to the Board effectively. The new General Counsel and Company Secretary is reviewing the main themes arising from the evaluation and will make recommendations to the Partnership Board during the course of the year. On behalf of the Chairman’s Nominations Committee Sir Charlie Mayfield Chairman and Chairman of the Chairman’s Nominations Committee Comply or explain? Composition and role of the Chairman’s Nominations Committee (continued) The Chairman’s Nominations Committee oversees the process of nominating and appointing the Chairman. The Committee will, following consultation with the Chairman, inform the Board concerning the plans, and the process, for succession regarding the role of the Chairman of the Partnership. In accordance with the Constitution the Chairman is the Chairman of the Partnership Board, by virtue of his appointment as Chairman of John Lewis Partnership Trust Limited. He nominates his successor in accordance with the Articles of Association of John Lewis Partnership Trust Limited. The Chairman’s Nominations Committee, led by the Chairman, oversees the process for Partnership Board appointments and makes recommendations to the Partnership Board. The Chairman’s Nominations Committee takes no part in the appointment of the Elected Directors, which is led by the Partnership Council. The Partnership has voluntarily adopted the UK Corporate Governance Code on a comply or explain basis. For more information: Go to page 84, Introduction Partnership difference Principles Strategy Performance Governance Financial statements
Page 1 and 2:
it’s your business John Lewis Par
Page 3 and 4:
Annual Report and Accounts 2015 Joh
Page 5 and 6:
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
Page 51 and 52:
Page 53 and 54: Annual Report and Accounts 2015 Joh
Page 103: Annual Report and Accounts 2015 Joh
Page 127 and 128: In a nutshell... Annual Report and
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Statement of Directors responsibili
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
Five year financial record for the
Page 181 and 182:
Page 183 and 184:
show all

john-lewis-partnership-plc-annual-report-2015

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?