Developers’ service provider Travis Perkins percent (“Travis Perkins” or the “Corporate”) has introduced that, on account of sick well being, Pete Redfern has stepped down as leader government with rapid impact.
The Travis Perkins board mentioned that Redfern’s resolution to prioritise his well being used to be “in step with the values of the corporate.”
Pete Redfern used to be simply 36 when he used to be made leader government of house-builder Taylor Wimpey, a task he held for 14 years till April 2022. His departure used to be reported as being the results of shareholder power however he all the time insisted that it used to be purely for private causes and to spend extra time together with his circle of relatives.
In September 2024, having simply grew to become 54 years of age, he returned to the C-suite as leader government of indexed developers’ service provider Travis Perkins, with former A-Plant leader Geoff Drabble taking the chair in the similar month.
With Redfern’s departure after simply six months, Drabble will now take a extra energetic position within the industry, pending the appointment of Redfern’s successor. Drabble will “paintings with the control group to verify the steadiness of the industry and that it stays eager about progressing the movements which are already underway to make stronger efficiency, support profitability and create sustainable price for shareholders,” the board mentioned.
Drabble mentioned: “The board and I are very sorry that Pete’s transient however promising tenure as CEO has been dropped at a untimely conclusion for causes past his and our regulate, and which none folks had expected. On a non-public degree, and on behalf of the board, I wish to thank Pete for his treasured contribution kickstarting the gang’s efforts to refocus at the buyer revel in and reenergise our box operations. He leaves with our highest needs for the longer term. The gang has many inherent strengths, profiting from national protection with marketplace main companies and powerful buyer and provider relationships. We now have a really perfect industry which has had its problems lately, however which I’m assured can construct on its inherent strengths and ship price for buyers and all of its different stakeholders.”
Travis Perkins’ proportion value fell 8% at the information.
Were given a tale? E mail information@theconstructionindex.co.united kingdom
