LONDON: Howdens Joinery Group announced that Peter Ventress will be appointed to the Board on 1 July 2022 as Chairman Designate and Non-Executive Director and he will assume the role of Chairman from 17 September 2022.
The Company announced on 18 February 2022 that Richard Pennycook had indicated his intention to retire with effect from 17 September 2022 ahead of reaching his nine-year tenure as a Non-Executive Director in line with good governance practice.
Peter is currently Chairman of Bunzl plc and Galliford Try plc. He was formerly a Non-Executive Director of BBA Aviation plc, where he was Senior Independent Director and Chairman of the Remuneration Committee.
He was also formerly a non-executive director of Softcat plc, Premier Farnell plc and Staples Solutions NV. Peter was Chief Executive Officer of Berendsen plc from 2010 to 2016 and prior to that he held several senior executive roles including International President of Staples Inc and Chief Executive Officer of Corporate Express NV, a Dutch quoted company which was subsequently acquired by Staples.
As well as his role as Chairman Designate and Non-Executive Director, Peter will be appointed to the Nominations and Sustainability Committees of the Board and he will become Chairman of these committees on 17 September 2022 when he assumes the role of Chairman of the Board. Galliford Try announced earlier today that Peter will be stepping down as Chairman and a Non-Executive Director with effect from 15 September 2022.
Geoff Drabble, Senior Independent Non-Executive Director, said: “We are delighted to welcome Peter to the Board of Howdens. In searching for Richard’s successor we conducted an extensive recruitment process and Peter was the ideal candidate. His record of value creation is outstanding and he has a wealth of knowledge and experience across a wide variety of businesses and industries. Peter’s appointment will enable a smooth transition ahead of Richard reaching his nine-year tenure as Chairman.”
Peter Ventress, Chairman Designate, said: “It is a huge privilege to be asked to serve as Chairman of Howdens. Since being founded in 1995, the business has been transformed into the leading trade supplier of kitchens in the UK by steadfastly focusing closely on the needs of its customers. The business operates in attractive and fragmented markets underpinned by its proven in-stock, trade only business model, and I look forward to playing my part in driving its continued success.”
Howden Joinery Group Plc is the parent company of Howden Joinery (Howdens). In the UK, Howdens sells kitchens and joinery products to trade customers, primarily small local builders, through 778 depots. In 2021, the business generated revenues of around £2.1 billion and profit before tax of £390.3 million. Around one-third of the products it sells are manufactured in house at its factories in Runcorn, Cheshire, and Howden, East Yorkshire both of which recently achieved carbon neutral status. The business also operates a total of 40 depots in France and Belgium. From 21 March 2022 Howdens will become a member of the FTSE 100.