Howden Joinery said on Friday that chairman Richard Pennycook plans to retire with effect from 17 September.
Pennycook was appointed chairman in May 2016, having joined the board in September 2013, initially as a non-executive director and chairman of the Audit committee.
Howdens said his retirement aligns with the company’s board succession plan and good governance practice, including requirements that a chair step down after nine years on the board.
A process is already underway to identify and appoint his successor, the company said.
Senior independent director Geoff Drabble 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 eight years. We wish him well for the future when he steps down in September.”
