Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

John Lewis chairman takes first bonus in three years

John Lewis chairman Sir Charlie Mayfield has taken a bonus for the first time in three years, just one month after staff received the lowest annual bonus since 1953. 

The chairman will take a 3% bonus in line with all other staff in the partnership. 

The decision adds £33,000 to his pay, making a total remuneration of £1.44m according to the company’s annual report. 

Profits before bonuses, tax and exceptional items at the John Lewis Partnership – department store John Lewis & Partners and supermarket Waitrose & Partners – fell 45.4% to £160m for the year to 26 January. 

The fall was a result of significant operating profit decline at John Lewis & Partners – down 55.5% to £114.7. This was driven by weaker home sales, lower gross margin and increased IT costs. 

Mayfield announced in the 2019 annual report that he would step down from his role in 2020. 

Tags

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.