Travis Perkins boss to quit amid recent ‘under-performance’

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. It said: “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.” Jasmine Whitbread, chair of Travis Perkins, said: “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.” Mr Roberts said: “Travis Perkins is a great company with a talented team and I have been privileged to serve as chief executive for the last five years. “While the board identifies my successor, I will continue to rigorously execute on our plan and drive performance.” The firm warned on reporting annual figures earlier this month that the UK construction sector is unlikely to see any serious recovery until after the upcoming general election expected later this year.