Travis Perkins plc has announced that Nick Roberts will be stepping down as Chief Executive Officer and from the Board after five years in the role.
A statement from the company read: “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, said: “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.”
