REG-Travis Perkins Travis Perkins: Directorate Change

Travis PerkinsAnnouncement

11/07/2023 07:15

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   Travis Perkins (TPK)
   Travis Perkins: Directorate Change

   11-Jul-2023 / 07:10 GMT/BST

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   Directorate Change

    

   11 July 2023

    

   Travis Perkins plc (“Travis Perkins” or the “Company”) announces that Alan
   Williams has advised the Company’s board (“Board”) that he will be
   retiring as Chief Financial Officer (“CFO”) and stepping down from the
   Board in 2024, after seven years in the role. Following a thorough and
   considered process the Board has decided to appoint Duncan Cooper,
   currently Group Finance Director at Crest Nicholson, to succeed Alan. The
   exact dates on which Duncan Cooper will join the Board and Alan Williams
   will retire and step down from the Board are yet to be confirmed.  Once
   they are, the Company will make a further announcement.

    

   Duncan, a Chartered Accountant, is currently Group Finance Director at
   Crest Nicholson (and an Executive Director of Crest Nicholson Holdings
   plc), a position he has held since June 2019. Prior to his role at Crest
   Nicholson, Duncan spent eight years in roles at Sainsbury’s including Head
   of Investor Relations, Finance Director - Food and Director of Group
   Finance.

    

   There is no additional information required to be disclosed in respect of
   the appointment of Duncan Cooper under Listing Rule 9.6.13.

    

   Nick Roberts, CEO of Travis Perkins plc said, “I’m hugely appreciative of
   the expertise Alan has brought to the Group and the support he has given
   me and the wider leadership team. He has been instrumental in leading us
   through a period of significant change including the successful sale of
   the Plumbing and Heating businesses and the demerger of Wickes as part of
   our strategy of focusing on the trade, as well as shaping our culture and
   our strategy to become the leading partner to the construction industry.
   We all wish Alan well in his forthcoming retirement in 2024.

    

   I’m thrilled that the Board has decided to appoint Duncan to succeed Alan
   as CFO. He brings an ambitious drive with a strong track record of
   performance focus and rich cross-sector experience having held senior
   leadership roles at Crest Nicholson and Sainsbury’s. I’m looking forward
   to him joining the Board and the leadership team.

    

   Jasmine Whitbread, Chair of Travis Perkins commented, “I’d like to thank
   Alan for his significant contribution to the Group over the last seven
   years, and wish him well in his retirement. Alan has been instrumental in
   driving the Group’s strong relationship with our shareholders and
   supporting the significant shift in strategic focus for the Group.

    

   I’m delighted that following a thorough and considered process we have
   been able to attract a candidate of Duncan’s calibre as our next CFO. His
   blend of experience with Sainsbury’s and in the construction industry with
   Crest Nicholson will enable him to apply his industry knowledge, broad
   business and strategic acumen and strong leadership to the ambitious
   agenda we have for the Group. The Board and I are very much looking
   forward to working with him.

    

   Duncan Cooper said, “I’m excited to be joining Travis Perkins plc in 2024,
   a market leading business with an exciting and ambitious strategy to be
   the leading partner to the construction industry. The industry is going
   through a period of significant change, underpinned by requirements for
   more sustainable, energy efficient buildings and I am looking forward to
   working with Nick, Jasmine and the Board to help shape the next phase of
   the Company’s evolution.”

    

   Remuneration disclosure

    

   All remuneration arrangements are consistent with the terms of the
   Directors' Remuneration Policy approved by shareholders at the AGM in
   2021.

    

   Duncan will receive an annual salary of £525,000 and will be eligible for
   annual incentive and restricted share plan awards at the same level as the
   current incumbent. Duncan will also receive replacement awards on a
   like-for-like basis as compensation for remuneration that will be
   forfeited on leaving his previous employer. These replacement awards will
   remain subject to performance conditions and holding periods where
   appropriate and will mirror the vesting and release schedule of forfeited
   awards.

    

   Further detail will be set out in the 2023 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.:   256674
   EQS News ID:    1676717


    
   End of Announcement EQS News Service

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