REG-Travis Perkins Travis Perkins: Directorate Change

Travis PerkinsAnnouncement

27/03/2024 07:15

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   Travis Perkins (TPK)
   Travis Perkins: Directorate Change

   27-March-2024 / 07:00 GMT/BST

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                                 27 March 2024

                                        

                               Travis Perkins plc

                                        

                               DIRECTORATE CHANGE

    

   The Board of Travis Perkins plc (“Travis Perkins” or the “Company”)  today
   announces that  Nick Roberts  will  be stepping  down as  Chief  Executive
   Officer and from the  Board after five  years in the  role. The Board  and
   Nick are aligned that now is the right time to search for a new leader  to
   take the  business  forward and  the  Nominations Committee  is  currently
   undertaking a  thorough  search process  for  Nick’s successor.  Nick  has
   agreed to remain in role until a successor is identified.

    

   Jasmine Whitbread, Chair, commented: “On behalf of the Board, I would like
   to thank Nick for his dedication and contribution to the business over the
   last five years. While  there has been good  progress made in  modernising
   the business,  the Board  fully recognises  the under  performance of  the
   business over  recent  reporting  periods, in  the  context  of  continued
   economic challenges and end market  weakness.  We remain fully focused  on
   improving  profitability  and  enhancing  cash  generation,  as  well   as
   accelerating changes  to our  operating model  to create  a simpler,  more
   efficient business,  well  positioned  to  emerge  stronger  when  markets
   recover and to grow shareholder value.”

   Nick Roberts commented: “Travis Perkins is a great company with a talented
   team and I have been privileged to serve as CEO for the last five years. I
   am proud of the  progress we have made  in modernising the company.  While
   the Board identifies my successor,  I will continue to rigorously  execute
   on our plan and drive performance.”

   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
   Robin Miller                          Faeth Birch
   General Counsel & Company Secretary   +44 (0) 7768 943171
   +44 (0)7515 197975                    TravisPerkins@fgsglobal.com
    1 robin.miller@travisperkins.co.uk    

    

   Remuneration Disclosure:

   Full details of all payments made to and receivable by Nick Roberts in
   respect of his services as a Director of the Company will be disclosed in
   a statement under Section 430(2B) Companies Act 2006 to be released upon
   Nick stepping down from the Board and in the Director’s Remuneration
   Report within the Company’s Annual Report and Accounts for the year ending
   31 December 2024.  To note the following:

     • Nick Roberts’ remuneration will be treated in accordance with the
       Company’s approved Directors’ Remuneration Policy.
     • Nick will not receive any payments or compensation for loss of office.
     • For the part of the 2024 performance year during which he remains
       actively in role Nick will remain eligible to receive a pro-rata
       bonus, subject to performance.   Any bonus that is paid will remain
       subject to deferral in accordance the Policy.  There will be no
       eligibility for bonus for any remaining part of 2024.
     • No Restricted Share Plan (“RSP”) award will be granted in 2024.
     • The outstanding RSP awards will remain outstanding and capable of
       vesting and exercise on their normal vesting and release dates, in
       part in the case of the 2021 RSP award based on the portion of the
       award vesting in March 2024 and in the case of 2022 and 2023 RSP
       awards based on the application of time pro-ration and the performance
       underpins. All applicable holding periods shall continue to apply.
     • The unvested award held under Deferred Share Bonus Plan will remain
       outstanding and capable of vesting on its normal vesting date.
     • Nick will be required to continue to meet the shareholding requirement
       policy for a period of two years after ceasing to be a Director of the
       Company.

                                   -- Ends --

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   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   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.:   312119
   EQS News ID:    1868069


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:robin.miller@travisperkins.co.uk


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