Travis Perkins (TPK) Travis Perkins plc  ("Travis Perkins" or "the Group")  Directorate Change  On 4 December 2018 we set out the Group's strategy for the years ahead. There are two main pillars of that strategy: to focus on delivering best-in-class service to trade customers, and to simplify the Group to reduce business complexity, reduce our above-branch cost base and speed up decision making. The Group also announced its intention to explore the divestment of its Plumbing and Heating businesses following successful transformation.  In the Group's full year 2018 results announcement, published today, we said that a key component of simplification is the removal of the existing divisional structure across the Merchanting businesses. Due to the changing shape of the Group, there will no longer be a Board-level Chief Operating Officer role and Tony Buffin steps down from the Board today and will be leaving the business.  Tony joined Travis Perkins plc as Group Chief Financial Officer ("CFO") in April 2013, before being appointed as Group Chief Operating Officer ("COO") in 2017. He has made a significant contribution to the success and evolution of the Group. As CFO he led a significant upgrade in the organisation of the finance function and as COO he has executed a successful transformation of our Plumbing & Heating businesses while overseeing significant growth in Toolstation UK and the successful expansion of that business into new Continental European markets.  Tony Buffin commented "I feel privileged to have worked with all of our amazing colleagues and to have been a member of the management team and Board as we have significantly expanded the business. I believe its renewed purpose and focus will lead to an even stronger and brighter future for the Group."  Stuart Chambers, Chairman commented "On behalf of the Board and all our colleagues I would like to thank Tony for his valuable contribution to the Group's growth and success. In particular, his leadership of our Plumbing and Heating division has been pivotal in its successful transformation. I wish Tony every future success."  This announcement is made pursuant to the Company's obligations under Listing Rule 9.6.11.  Remuneration Disclosure:  Full details of all payments made to and receivable by Tony Buffin in respect of his services as a Director of the Company will be disclosed in the Directors' Remuneration Report within the Company's Annual Report and Accounts for the year ending 31 December 2019, and subsequent years, if appropriate. To note the following:
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 Enquiries:  Travis Perkins Tulchan Communications Graeme Barnes  David Allchurch +44 (0) 7469 401819 +44 (0) 207 353 4200 graeme.barnes@travisperkins.co.uk  Zak Newmark +44 (0) 7384 432560 zak.newmark@travisperkins.co.uk  |
ISIN: | GB0007739609 |
Category Code: | BOA |
TIDM: | TPK |
LEI Code: | 2138001I27OUBAF22K83 |
Sequence No.: | 7617 |
EQS News ID: | 780979 |
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End of Announcement | EQS News Service |
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