s. 172 Statement
The Companies (Miscellaneous Reporting) Regulations 2018 require Anixter Limited to publish a statement explaining how the directors have given due regard for the matters set forth in section 172 (1) (a) to (f) of the Companies Act 2006 while performing their duty to promote the success of the Company for the benefit of its members as a whole (s.172 Statement). Anixter Limited’s s.172 Statement from its Strategic Report for the financial year ended 1 January 2021 is set out below.
Section 172 (1) Statement
In line with Section 172 of the Companies Act 2006, the directors of the Company recognise the need for sustainable and ethical business conduct to achieve success for the Company in the long-term. This is done through effective engagement with our key stakeholders. The relationships upheld represent significant value to the Company and their interests are considered in the decision-making processes. Much time is invested into planning the actions of the Company including assessment of impact of decisions both in short and long-term.
As a subsidiary, the Company implements policies established at Group level, to be consistent with the overall Group strategy. These policies are wide ranging and provide an important guideline and framework within which the Company operates. This is important because the Company maintains many international and multi-national relationships; and consistency of culture and clear policy is needed to deliver a cohesive experience to multi-national customers and suppliers alike. A lot of information on this can be sourced from the responsibility and corporate governance pages of the WESCO website.
A significant amount of localised decision-making is de-centralised, enabling leaders of functions or business segments within the Company to assess the views of the unique subset of stakeholders regarding these decisions. Those in leadership can then make decisions that abide by the Group policies and overall stakeholder strategy. There is also relevant notification and approval frameworks in place to ensure any investment of the Company’s resources as a result of such decisions does satisfy Company policy in bringing value to the affected stakeholders. The direction taken is then fed back through the Company through various reporting frameworks and update meetings. This way, the directors consider themselves well informed with regards to key decision making undertaken by other facets of the Company’s governance framework.
Holding to the utmost moral standards is a cornerstone of the business. Every partnership, transaction, and interaction is managed with integrity, fairness, and respect. To stay true to this philosophy, the Company requires all employees to review and sign an annual Code of Business Ethics and Conduct. This helps them identify areas of potential conflict and offers guidance in recognizing and managing ethical issues.
Key aspects of the Company’s stakeholder engagement are as follows:
Ultimate parent company, the wider Group and shareholders
The Company forms part of a much larger multi-national Group which is supported by its shareholders. Shareholders are kept informed through regular events and news releases for the Group. There are also several channels through which shareholders make contact and communicate with the Group, with for example the dedicated investor relations resources. The Company operates within this framework through frequent reporting to the rest of the Group and scheduled meetings with those in the leadership hierarchy. There is also a culture of compliance with Group policy and drive for continuously improving systems and processes to better serve the rest of the Group.
Safety remains a priority and a company-wide responsibility. Our goal is to provide a safe work environment for our employees and all those who visit our facilities. Our education and awareness campaigns for employees include training for our branches and distribution centres, enhanced reporting and investigative tools, a monthly educational newsletter, and reinforced processes at the local branch level. We believe that every incident is preventable, so we strive to achieve a “zero harm” environment.
The Company prioritises continuous improvement and, as such, treats seriously the training and development of all employees through various learning and education resources. Much of this is tailored to the career development journey of the individual or department. Employees have the opportunity to put forward their own ideas for learning requirements for consideration.
The Company operates an inclusive culture that values the opinions and contributions of its diverse group of employees. Business Resource Groups (BRGs) have been established to act as a sounding board around strategic diversity objectives within the organisation, including:
- Serve as a collective voice around issues that enable a respectful workplace, by uncovering the specific needs of a diverse community within the organization.
- Provide opportunities for employee development, education, training, recruitment, retention, business outreach, and development.
- Support innovation by providing insights on new markets, product development, and multicultural marketing, while enhancing our reputation in the marketplace.
Life-changing events can happen to any of us, often when we least expect them. Employees in need can turn to the WESCO International Charitable Foundation (WICF). Its mission is to be an extra source of support during a natural disaster or other devastating occurrence and reaches affected employees and their communities.
Customers and Suppliers
The Group partners with leading manufacturers that support the market segments we serve around the world. The depth and breadth of their offerings help enable us to deliver top-quality products and solutions across numerous markets. The Company, as a partaker in these strategic supplier relationships, helps deliver on a consistent business experiences from the perspective of the UK marketplace.
A key priority for the Company is in establishing how we can add value to the solutions we offer to our customers. We work alongside them to ascertain exactly what services we can provide to meet their needs, whether this be kitting or innovative cable management solutions to save them time on installations or inventory management solutions to ensure they always have sufficient product on-hand when needed.
There is always more that can be done, so the Company drives a continuous improvement initiative to improve customer and supplier experiences alike.
Local communities and the environment
Giving back to our communities is an essential part of who we are. Every year, we are humbled by our employees’ generosity. Their charitable works range from mentoring and education to hosting toy drives and donating food and personal care items to those in need.
Many of our branches support local groups and causes that matter to them. We recognise many of these efforts internally and on our social media sites. It’s important that we recognise the charitable work of our employees and inspire others to follow suit.
Sustainability is an important strategic priority and a company-wide responsibility. We aim for Lean process improvements while helping our customers make progress in lighting efficiency, energy management, renewable energy, water and waste mitigation, and green procurement. We continue to invest in new and emerging technologies and expand our capabilities in order to meet growing demands in these areas:
- Energy efficiency: We provide some of the most efficient products on the market, including LED lighting and energy-efficient power systems.
- Energy management: We offer a suite of smart building solutions that help manage a facility’s environmental impact, including advanced building automation equipment and HVAC controls.
- Renewable energy: We provide turnkey renewable energy solutions ranging from large-scale photovoltaic projects to customized solar, wind, and energy solutions.
- Sustainable MRO: We help businesses meet green procurement goals by offering a broad range of sustainable tools, safety equipment, and miscellaneous consumables.
We are also committed to improving sustainability within our own operations. For a number of years, we have reduced our environmental footprint through programs that help us improve energy conservation, waste reduction, and fleet efficiency.