Sir Charlie Mayfield to depart John Lewis Partnership in 2020 | Enterprise

The John Lewis Partnership is trying to find a brand new chair after it introduced Sir Charlie Mayfield was stepping down in 2020.

The group, which owns Waitrose and the John Lewis chain of shops, stated it might take into account exterior candidates in addition to insiders as replacements for Mayfield, who has held the submit for 11 years.

Probably inside candidates embody Paula Nickolds, the managing director of the John Lewis shops, Rob Collins, the top of Waitrose, and the group finance director, Patrick Lewis.

Retailers which have gone bust 2017-18

Toys R Us: 180 shops using 3,000 employees, collapsed 28 February. Owes £15m in VAT, due by 1 March.

Maplin: 200 electronics and gadget shops, based 1972, additionally failed on 28 February.

Warren Evans: bedmaker went into administration earlier in February.

East: style model with almost 50 retailers folded in January.

Juice Corp: enterprise behind manufacturers together with Elizabeth Emanuel and Joe Bloggs went beneath in January.

Multiyork: furnishings chain with 50 shops went into administration in November.

Feather & Black: bed room furnishings and bedding specialist with 25 retailers fell into administration in November.

Retailers beneath strain

New Look has money owed of greater than £1bn and has misplaced a few of its credit score insurance coverage cowl, which protects suppliers if a retailer goes bust. Within the 10 months to Christmas, gross sales fell 11% and losses hit £123m. The corporate intends to shut 60 shops and alter its style ranges, however faces a wrestle to win again younger customers.

Home of Fraser‘s Chinese language proprietor, Sanpower, needed to stump up £25m to see the shop by Christmas and its debt is rated as junk. The retailer is trying to cut back the scale of its shops by 30% and has requested landlords to chop rents.

Debenhams, a 178-store chain that’s greater than 200 years outdated, is axing one in 4 of its managers and contemplating closures to chop prices. It has warned that income have been hit by decrease than anticipated gross sales, with revenue margins additionally down because of having to chop costs to match rivals.


{Photograph}: Tony Margiocchi / Barcroft Photos/Barcroft Media

The seek for a brand new chairman comes at a difficult time for the employee-owned enterprise. Income have fallen amid rising prices and a structural shift out there in direction of on-line procuring throughout which troubled rivals closed shops or provided extra reductions.

Mayfield’s departure had been anticipated internally. The corporate’s structure states {that a} chairman’s tenure will be renewed for 3 years after the primary 10, however is barely more likely to be prolonged additional in distinctive circumstances.

Mayfield stated: “Though my departure continues to be a substantial manner off, the appointment of my successor is a key duty. It is for that reason I’ve determined to put out the timetable now to allow an open and thorough course of to pick the following chairman of the partnership.”

The method for choosing the partnership’s fifth chairman might be overseen by a committee made up of two elected administrators, two unbiased non-executive administrators, and Mayfield. The committee is chaired by Keith Williams, the deputy chairman, and supported by unbiased recruitment consultants.

The brand new chair might be introduced within the second half of 2019.

You May Also Like

About the Author: admin

Leave a Reply

Your email address will not be published. Required fields are marked *