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Richard Pennycook To Retire From Howdens

Howdens depot left sky

Howdens announces that Richard Pennycook has indicated his intention to retire from the Board with effect from 17 September 2022.

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Image : Richard Pennycook, Chairman

Richard was appointed as Howdens' Chairman in May 2016, having joined the Board in September 2013, initially as a non-executive Director and Chairman of the Audit committee. His retirement aligns with the Company's Board succession plan and good governance practice, including the UK Corporate Governance Code requirement for a chair to step down after nine years on the Board. 

A process is already underway for the Nomination Committee, led by the Senior Independent Non-Executive Director, Geoff Drabble to identify and appoint his successor. 

Geoff Drabble, Senior Independent Director, said:

"I would like to take this opportunity to thank Richard for his significant contribution during his time at Howdens. He has been a first-class Chairman and has been instrumental in the rapid growth and development of the business over the past 8 years. We wish him well for the future when he steps down in September." 

Richard Pennycook said: 

"It has been a privilege to serve this very fine Company. It is a unique, dynamic, customer focused business which owes its success to the dedication of its people and represents everything that British business should be. I will be stepping down from a business in great shape, with a successful strategy and a sound platform on which to generate sustainable growth in the future."

Source : Howdens

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21 February 2022

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