UK retailer John Lewis, known for its progressive governance policies, has criticised plans by Prime Minister Theresa May to place workers on company boards. The firm warned in a written statement to the British Bankers Association business, energy and industrial strategy committee that the move would not achieve the anticipated improvement in corporate governance. The firm attributed its own effective governance to the fact that the Partnership is owned by its 89,000 full-time employees. The Institute of Directors, the House of Commons and the CBI also raised concerns about the proposal.
UK retailer John Lewis, known for its progressive governance policies, has criticised plans by Prime Minister Theresa May to place workers on company boards. The firm warned in a written statement to the House of Commons business, energy and industrial strategy committee that the move would not achieve the anticipated improvement in corporate governance. The firm attributed its own effective governance to the fact that the Partnership is owned by its 89,000 full-time employees. The Institute of Directors, the British Bankers Association and the CBI also raised concerns about the proposal.