Employee OwnershipAustralia and New Zealand

Melbourne, 10th May 2012

Sir Stuart Hampson

Chairman, 1993-2007

The Power of Employee Engagement

−History and soldiers

−Lunch and Heathrow Terminal 5

−Princess Diana and electric fans

−Home-made apple pie

−Happiness

The John Lewis Partnership

John Lewis & Waitrose

1864 John Lewis

1929 John Lewis Partnership

“owned by the staff, for the staff”

2011 JOHN LEWIS PARTNERSHIP

−Sales of £8.7bn

−81,000 employees (Partners)

−Profits of £354m

−Partnership Bonus of £165m−14% of pay

Verdict business researchWhich? consumer magazine

“Britain’s favourite retailers

No 1 and No 2”

The Partnership’s ultimate purpose is the happiness of its members,

through their worthwhile and satisfying employment in a

successful business.

The Partnership’s ultimate purpose is the happiness of its members,

through their worthwhile and satisfying employment in a

successful business.

The Partnership’s ultimate purpose is the happiness of its members,

through their worthwhile and satisfying employment in a

successful business.

The Partnership’s ultimate purpose is the happiness of its members,

through their worthwhile and satisfying employment in a

successful business.

The Partnership’s ultimate purpose is the happiness of its members,

through their worthwhile and satisfying employment in a

successful business.

Be honest Give respect Recognise others

Show enterprise

Work together

Achieve more

Why not?

−History and soldiers

−Lunch and Heathrow Terminal 5

−Princess Diana and electric fans

−Happiness

−Home-made apple pie

Employee ownership Engagement and Happiness

Lasting competitive advantageExcellent customer experience