DJ Travis Perkins: Directorate Change
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
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 remaineligible to receive a pro-rata bonus, subject to performance. Any bonus that is paid will remain subject todeferral 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 normalvesting and release dates, in part in the case of the 2021 RSP award based on the portion of the award vesting inMarch 2024 and in the case of 2022 and 2023 RSP awards based on the application of time pro-ration and theperformance 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 onits normal vesting date.
-- Nick will be required to continue to meet the shareholding requirement policy for a period of two yearsafter ceasing to be a Director of the Company.
-- Ends --
----------------------------------------------------------------------------------------------------------------------- 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 =------------------------------------------------------------------------------------
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1868069&application_name=news
(END) Dow Jones Newswires
March 27, 2024 03:00 ET (07:00 GMT)
