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Travis Perkins names new CEO and chair

Travis Perkins names new CEO and chair

Travis Perkins has appointed Pete Redfern as its new chief executive and Geoff Drabble as chair designate, in two big changes to the building materials giant’s leadership team.

Construction veteran Redfern will take on the role at the builders merchant from 16 September when Nick Roberts steps down from the top spot.

Holding over two decades of leadership, operational and finance experience in the construction sector, Redfern was previously a non-executive director at Travis Perkins for nine years and was group chief executive of construction firm Taylor Wimpey for 14 years until 2022.

Meanwhile, Drabble has been named as a non-executive director with effect from 1 October, as well as chair designate. He will take up the position of chair as soon as his capacity allows.

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He brings experience in publicly listed businesses across the building materials distribution, equipment hire and tools markets in which the Travis Perkins operates, gained from both executive and non-executive roles.

He is chair of Ferguson plc, the building materials distribution business listed on the New York and London Stock Exchanges, which primarily operates in North America.

Redfern said: “It is a privilege to become the next chief executive officer of Travis Perkins. In addition to my time as a non-executive director, I have operated as both a customer of, and a supplier to the group and have a strong sense of its inherent potential.”

“My initial focus will be on implementing and adding to the actions already underway to improve operational execution and increase the focus on efficiency and cash generation, whilst also starting to develop the group’s strategy for the years ahead.”

Interim chair Jez Maiden added: “Pete brings a combination of deep sector knowledge, operational delivery capability, commercial acumen and listed company expertise.”

“He is focused on operational rigour and driving a performance culture, prioritising customers, quality and people. He has demonstrated his skills in managing costs, margins and cash generation, complemented by a rigorous approach to capital allocation.

“Pete joins at an important time for the group as we focus on improving profitability and enhancing cash generation, as well as accelerating changes to our operating model to create a simpler, more efficient business.”

Meanwhile Drabble said he was focused on creating a  “simpler, more efficient, customer-centric business, focused on maximising its inherent strengths”.

“I am excited by the opportunity to contribute towards returning the business to growth and to create a pathway to improving profitability and creating significant shareholder value,” he added.

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