Travis Perkins boss to leave after poor 2023

The CEO at Northampton-based builders merchant Travis Perkins is to quit.

Nick Roberts will leave the firm by mutual consent after five years in the role. He will remain in post until a successor is found.

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.”

Earlier this month, Travis Perkins reported full-year results for 2023 that showed an 80% dip in profits. The firm posted post-tax profits of just £38m despite revenues of £4.8bn for the year.

Roberts said: “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.”