Revolt puts John Lewis chief’s future online
THE huge scale of opposition to Dame Sharon White’s leadership of John Lewis has been laid bare as the high street retailer lurches from one crisis to another.
Dame Sharon, 56, has provoked a furious backlash from staff over her plans to turn round the loss-making firm, which includes 34 John Lewis department stores and 332 Waitrose supermarkets.
These include cutting £900 million in costs and looking to raise as much as £2 billion from investors in a move that threatens the employee-owned company’s treasured mutual status.
The future of Dame Sharon, who is a former media regulator with no retail experience, is now on the line after just four of 55 votes cast by the Partnership’s governing council backed her performance over the past year, when she earned almost £1 million. In a humiliating rebuke, the rest of the votes either ‘disagreed’ or ‘strongly disagreed’ with her performance in a poll last week.
The massive rebellion leaves her future as chairman of the 159-yearold company hanging by a thread.
Neil Saunders, of retail analysts Global Data, said: ‘It tells you what a steep mountain she has to climb to win back partners’ confidence and to turn the business around.’
John Lewis lost £234 million last year and the staff bonus was axed. Dame Sharon’s plans to expand into property and financial services have also alarmed analysts.
‘She needs to start focusing back on retail,’ said Mr Saunders, an ex-John Lewis trainee. ‘All is not well. There is deep dissatisfaction across the partnership. If there is no improvement in performance by next year it will be game over for her.’