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Below we have set out the most recent reports which make up the Governance Report in our latest annual report. We discuss throughout the Governance Report how our actions support the strategy, business model, and our founding principle of being worthwhile for all concerned.

Corporate Governance Report

Our Corporate Governance Report includes an introduction from our Chairman, information about our Directors and how they contribute to the long-term sustainable success of the Company, our key Board activities in 2019 and those planned for 2020, and how our governance arrangements benchmark against the UK Corporate Governance Code. For the first time, we have also set out how we engage and foster relationships with our stakeholders (and how this engagement has influenced Board discussions and decision-making) and how our Directors have discharged their duty under section 172(1) of the Companies Act 2006. View the Schedule of Matters Reserved for the Board. To read our most recent Corporate Governance Report, please click below.

Nominations Committee Report

The recruitment of talented individuals to the Board and senior management team ensures we can remain competitive. Our Nominations Committee (a sub-committee of the Board) leads the process for appointments to the Board and senior management positions, ensures plans are in place for the orderly succession to both the Board and senior management positions, and oversees the development of a diverse pipeline for succession. View the Terms of Reference of the Nominations Committee. Read on to see the Nominations Committee’s most recent report.

Remuneration Committee Report

Fair and balanced remuneration practices for our Executive Directors and senior managers plays a key role in ensuring sustainable growth of the business and the fulfilment of our strategic objectives. Our Remuneration Committee (a sub-committee of the Board) has responsibility for determining our Executive Directors’ remuneration policy and for setting the remuneration of the Chairman, Executive Directors and senior managers (including the Company Secretary). It reviews the workforce remuneration and related policies and the alignment of incentives and rewards with our culture. View the Terms of Reference of the Remuneration Committee. View our Directors’ Remuneration Policy. Read on to see the Remuneration Committee’s most recent report.

Audit Committee Report

The oversight of the financial reporting process and the Company’s system of internal control is a crucial pillar in our governance framework. Our Audit Committee (a sub-committee of the Board) monitors the integrity of the financial statements of the Company and any formal announcements relating to our financial performance. It also reviews our internal controls, monitors the effectiveness of the internal audit function and reviews and monitors our external auditor’s independence and process effectiveness. View the Terms of Reference of the Audit Committee. Read on to see the Audit Committee’s most recent report.

Governance

Howdens is a values-driven business with a deeply embedded culture of doing the right thing in respect of all our stakeholders. Being worthwhile for all concerned means providing a safe environment in which our employees work, offering them secure employment with prospects for progression, selling great products to our trade account holders, having long-term strategic relationships with our key suppliers, generating value for our shareholders, contributing to the communities in which we operate and ensuring that the business remains in robust financial health.

Corporate Governance Report

The governance report offers an examination of the way the company is led, in accordance to the provisions set out in the UK Corporate Governance Code.

It analyses the effectiveness of the board, as well as the board’s composition, development and accountability. Explore the results of the latest report, and gain a deeper understanding of the company’s directorial structure.

Remuneration Committee

The remuneration committee is a sub-committee of the board and is made up of independent non-executive directors. It has responsibility for determining our executive directors’ remuneration policy and for setting the remuneration of the chair, executive directors and senior managers (including the company secretary). It reviews the workforce remuneration and related policies and the alignment of incentives and rewards with our culture. Read on to see the committee’s most recent report.

Audit Committee Report

The audit committee is a sub-committee of the Board and is made up of independent non-executive directors. It monitors the integrity of the financial statements of the company and any formal announcements relating to the company’s financial performance. It also reviews the company’s internal financial controls, monitors the effectiveness of the internal audit function and reviews and monitors the external auditor’s independence and process effectiveness. Read on to see the committee’s most recent assessment.

Group UK tax strategy

As a business, we are committed to being a responsible taxpayer. Therefore, our tax strategy statement is prepared in adherence to 2016 Finance Act guidelines. In the document, we list our approaches to tax management and planning, and how we minimise tax risk. Read more to see how we demonstrate integrity, plus information regarding our relationship with HMRC.

Gender pay gap report

The need for organisations to provide transparency on gender pay gap was introduced as legislation in 2017. This move was welcomed by Howdens, as we are committed to being an equal opportunities employer. The annual paper is prepared by the HR department, and uses data comparing ‘ordinary pay’ and ‘bonus pay’. See our results and year-on-year improvements.

Modern slavery statement

Our Modern Slavery Statement is made in compliance with the 2015 Act of the same name. It states our promise to safeguard people, and the processes in place to facilitate this. It also outlines areas of risk and the training we provide to empower staff to identify such risk. View the findings in the full report.

HOWDENS Making space more valuable

culture & people

Business model and Strategy

Find out more about our business model and strategy, the markets in which we operate and our strategic approach to protect our unique business model and ensure that the business continues to grow.
our depots

Our depots

As a familiar sight across towns and cities in the UK and Europe, our depots are always within easy reach, so a trade professional never has far to travel to find their nearest Howdens. Get to know more about how each one operates.
our history

Sustainability

Our sustainable behaviour is at the heart of our business and enables us to reduce some of our risks. We take great pride in ensuring that our business positively impacts the world around us and the people within it.
in-the-community

In the community

We are passionate about supporting the local communities we operate in, which is why our depots and support staff actively seek ways to give something back. Whether it is running half marathons or sponsoring local Scout groups, discover the many ways we help good causes.
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Our products

With more than 80 kitchen styles, an exclusive appliance brand, Lamona, and thousands of products across joinery and hardware, learn why our builders have come to trust the range and quality of the products we offer.
business strategy

People & Careers

The Sunday Times named Howdens as one of the top 25 big companies to work for. Discover why Howdens is a great place to work, how we develop our people and reward them, whilst building a culture with an entrepreneurial spirit.
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Financial Results

Download copies of the latest financial results for Howdens both past and present including the associated presentations and Interim Management Statements released between results announcements.
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Governance

Howdens is a responsible business which was founded on the tenet that the Company should be worthwhile for all concerned, with a commitment to the people within its reach and the wider world. Here we provide the links to the framework that informs our decisions and outcomes.