Travis Perkins CEO Steps Down Due To Ill Health

The Board of Travis Perkins plc today announces that regrettably, as a result of ill health, Pete Redfern [pictured below] will be stepping down as Chief Executive Officer (“CEO”) and from the Board with immediate effect. Consistent with the values of the Company, the Board supports Pete’s understandable decision to prioritise his health and wishes him a speedy and full recovery.

Geoff Drabble, Chair, will work with the management team to ensure the stability of the business and that it remains focused on progressing the actions that are already underway to improve performance, enhance profitability and create sustainable value for shareholders. The Nominations Committee will immediately commence a search for a successor CEO.

Geoff Drabble said: “The Board and I are very sorry that Pete’s brief but promising tenure as CEO has been brought to a premature conclusion for reasons beyond his and our control, and which none of us had anticipated. On a personal level, and on behalf of the Board, I would like to thank Pete for his valuable contribution kickstarting the Group’s efforts to refocus on the customer experience and reenergise our field operations. He leaves with our best wishes for the future. The Group has many inherent strengths, benefiting from nationwide coverage with market leading businesses and strong customer and supplier relationships. We have a great business which has had its issues in recent times, but which I am confident can build on its inherent strengths and deliver value for investors and all of its other stakeholders.”

Travis Perkins will report its full year results on 18th March 2025.

Source : Travis Perkins PLC

Image : Jevanto Productions / Shutterstock.com / 1011398482

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