REG-Travis Perkins Travis Perkins: Chief Executive Officer appointment

Travis PerkinsAnnouncement

10/07/2024 07:15

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   Travis Perkins (TPK)
   Travis Perkins: Chief Executive Officer appointment

   10-Jul-2024 / 07:00 GMT/BST

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                                  10 July 2024

    

                     Travis Perkins plc: Directorate change

    

    Pursuant to Listing Rule 9.6.11 Travis Perkins plc (“Group or Company”)
                       makes the following announcement.

    

                      Chief Executive Officer appointment

    

   Travis Perkins plc is pleased to announce that following an extensive and
   rigorous search process, Pete Redfern has been appointed as a Director of
   the Company and Chief Executive Officer (“CEO”) with effect from 16
   September 2024. Pete succeeds Nick Roberts, who will step down as CEO and
   from the Board on the same day.

    

   Pete brings over two decades of leadership, operational and finance
   experience in the

   construction sector, including 14 years as Group Chief Executive of Taylor
   Wimpey plc until 2022. During his time at Taylor Wimpey, Pete oversaw the
   transformation of the company into one of the largest housebuilders in the
   UK, and its elevation to the FTSE 100, restructuring the Group post its
   merger, building a strong financial position after the global financial
   crisis, refocusing the company on its UK operations and delivering a
   strategy that created significant shareholder value through a focus on
   organic growth. Alongside his sector experience, Pete also benefits from a
   deep understanding of Travis Perkins Group, having served on the Board as
   a Non-Executive Director for nine years to September 2023.

    

   Jez Maiden, Interim Chair, commented:

   “I am delighted that Pete Redfern will be joining Travis Perkins as CEO.
   Pete brings a combination of deep sector knowledge, operational delivery
   capability, commercial acumen and listed company expertise. He is focused
   on operational rigour and driving a performance culture, prioritising
   customers, quality and people. He has demonstrated his skills in managing
   costs, margins and cash generation, complemented by a rigorous approach to
   capital allocation.

    

   “Pete joins at an important time for the Group as we focus on improving
   profitability and enhancing cash generation, as well as accelerating
   changes to our operating model to create a simpler, more efficient
   business. I am confident that, together with Duncan Cooper, Chief
   Financial Officer, the executive leadership team will accelerate the
   ongoing transformation of the Group and deliver strong shareholder
   returns.

    

   “I would like to thank Nick Roberts for his leadership of and dedication
   to Travis Perkins as CEO over the last five years. Nick has led the
   modernisation and simplification of the Group, whilst navigating a
   challenging trading environment, and we wish him every success in the
   future.”

    

    

    

   Pete Redfern commented:

   “It is a privilege to become the next Chief Executive Officer of Travis
   Perkins. In addition to my time as a Non-Executive Director, I have
   operated as both a customer of, and a supplier to the Group and have a
   strong sense of its inherent potential. My initial focus will be on
   implementing and adding to the actions already underway to improve
   operational execution and increase the focus on efficiency and cash
   generation, whilst also starting to develop the Group's strategy for the
   years ahead.

    

   “I am looking forward to working with Geoff, Duncan and the Board,
   together with all colleagues across the Group, to position us for the
   opportunities our changing environment will offer and to drive significant
   value for our shareholders.”

    

   There is no further information to be disclosed in respect of Pete Redfern
   under paragraphs 9.6.13 (1) to (6) of the Listing Rules.

    

   This announcement contains inside information for the purposes of Article
   7 of EU

   Regulation 596/204 (which forms part of domestic UK law pursuant to the
   European Union

   (Withdrawal) Act 2018) and has been authorised for release by Robin Miller
   General Counsel and Company Secretary.

    

   Enquiries:

    

   Travis Perkins                   FGS Global
   Matt Worster                     Faeth Birch / Jenny Davey / James Gray
   +44 (0) 7990 088548              +44 (0) 207 251 3801
   matt.worster@travisperkins.co.uk TravisPerkins@fgsglobal.com

    

   Remuneration disclosure

    

   Pete will receive an annual salary of £760,000, set taking into account
   his significant prior

   experience. Pete will also be eligible for annual bonus and Restricted
   Share Plan (“RSP”) awards at the same level as the current incumbent. Pete
   will receive an RSP award and a pro-rata annual bonus in respect of 2024.
   There are no forfeited awards from previous employment to be bought out.

    

   Further detail will be set out in the 2024 Directors’ Remuneration Report.

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00BK9RKT01
   Category Code:  BOA
   TIDM:           TPK
   LEI Code:       2138001I27OUBAF22K83
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   333071
   EQS News ID:    1942793


    
   End of Announcement EQS News Service

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