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The board of Travis Perkins has revealed that Nick Roberts is set to step down from his role as chief executive officer and from the board after five years in the role.
The British builders’ merchant and home improvement retailer said its board and Roberts are aligned that “now is the right time to search for a new leader to take the business forward” and its Nominations Committee is currently undertaking a thorough search process for Robert’s successor.
He has agreed to remain in the role until a successor is identified.
Jasmine Whitbread, chair of the board, 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.”
Roberts added: “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.”
