Currys has dissolved its board-level environmental, social and governance (ESG) committee, shifting responsibility for ESG oversight to existing teams and other board committees.

The move comes less than two years after the committee was established in 2023 to help shape the retailer’s ESG strategy and oversee its integration across the business.

The committee, which included non-executive directors Eileen Burbidge, Magdalena Gerger and Octavia Morley, played a key role in developing Currys’ approach to sustainability and governance. Burbidge stepped down from the board at the company’s annual general meeting on 4 September, while Gerger will continue to provide independent oversight by attending meetings of the group sustainability leadership team and reporting back to the board. Morley remains as senior independent director and remuneration committee chair.

Explaining the decision, Currys said: “The board has considered the progress made on the ESG strategy, and the upcoming reporting requirements for sustainability and has agreed that it is the right time to evolve the governance structure for ESG”.

The company added that an existing group sustainability leadership team, made up of functional leaders from executive teams, will now manage the day-to-day oversight and delivery of ESG goals, as well as the management of ESG risks and opportunities. Remaining responsibilities previously held by the ESG committee will be shared between the board and the audit committee.

A spokesperson for Currys insisted that the change does not signal a reduced focus on sustainability. “This absolutely is not a de-emphasis on ESG. We’re as committed as ever”.

The retailer’s recent trading update showed group sales rising by 3 per cent for the 17 weeks ended 30 August, with UK and Ireland like-for-like sales driven by market share gains and double-digit growth in new categories and business-to-business. Currys has also launched a £50m share buyback programme and is targeting continued growth in higher margin, recurring revenue services, including reaching at least 2.5 million iD Mobile subscribers before the end of the year.

The company said its trading in the first four months of the financial year has been in line with expectations and that it is planning confidently for the year ahead.

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