Governance Overview
A DOWN-TO-EARTH APPROACH TO GOVERNANCE
DOING THINGS PROPERLY
We believe that good governance – in our words ‘doing things properly’ – leads to stronger value creation, the building of greater understanding and trust of our business, lowering risks and creating opportunities for all stakeholders.
SETTING THE TONE FROM THE TOP
It is the Board’s responsibility to instil and maintain a culture of openness, integrity and transparency throughout the business, through our policies and communications, and by the way in which the Board, and therefore Dunelm, acts.
ALWAYS AIMING TO COMPLY
We always intend to comply with the prevailing principles of good
governance and codes of best practice honestly, simply, transparently, and with clarity and integrity.
PRAGMATIC APPLICATION
We are pragmatic in our approach and apply corporate governance
guidelines in a way that is beneficial to our business, and our stakeholders, consistent with our culture and true to our shared values.
COMPLY OR EXPLAIN
If we decide that the interests of the Group can be better served by doing things in a different way – without compromising our purpose, culture or shared values – we will explain our reasons why in a thoughtful, compelling way, including how we have mitigated any impacts of not following the Corporate Governance Code.
CONSIDERED DECISION-MAKING
Our Board members believe it is more important to focus on what is right for Dunelm than be in the spotlight; we are prepared to live with our decisions for the long term, and we care about and
listen to our stakeholders.
We have always believed that good governance helps companies make better decisions for the benefit of all stakeholders, including the communities in which they operate, and for the economy, environment, and society as a whole. This is reflected in our purpose and shared values which are referred to throughout this report. We fully support the Corporate Governance Code, which sets out good practice that boards should adopt to be effective, accountable, transparent and focused on success over the longer term; and which encourages boards to focus on their purpose and culture, and to respond demonstrably to society’s demand that they consider the needs and expectations of their stakeholders.
Our governance approach, summarised above, has not changed fundamentally since the flotation of the Company in 2006. We do, however, review emerging guidance and best practice regularly to ensure we follow not just words and processes but the spirit of what is being asked of today’s UK plc.