Travis Perkins: Directorate Change
March 27 2024 - 2:00AM
EQS Regulatory News
Travis Perkins (TPK)
Travis Perkins: Directorate Change
27-March-2024 / 07:00 GMT/BST
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
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FGS
Global
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Robin Miller
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Faeth Birch
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General Counsel & Company
Secretary
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+44 (0) 7768 943171
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+44 (0)7515 197975
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TravisPerkins@fgsglobal.com
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robin.miller@travisperkins.co.uk
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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 remain eligible to receive a pro-rata bonus, subject to
performance.
Any bonus that is
paid will remain subject to deferral 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 normal vesting and release dates, in part in the case of
the 2021 RSP award based on the portion of the award vesting in
March 2024 and in the case of 2022 and 2023 RSP awards based on the
application of time pro-ration and the performance 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 on its normal vesting date.
-
Nick will be
required to continue to meet the shareholding requirement policy
for a period of two years after 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 |
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