John Lewis is to break a 140-year old tradition of only having ‘insiders’ on the board by recruiting two external non-executive directors.
The retailer said the move would bring a “fresh perspective” on the company’s strategy.
The two external directors will join the five executive directors and five staff members elected to the board.
John Lewis remains the UK’s largest example of worker co-ownership, with all 64,000 permanent staff being partners in the company.
Chairman Sir Stuart Hampson said: “The appointment of non-executive directors will bring a different external experience to our debates and introduce fresh challenge and stimulus as we adopt new initiatives and develop our existing formats.”
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The company aims to appoint the two new non-executive directors by the end of the summer and has appointed executive headhunter Moloney Search to identify potential candidates.
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