Travis Perkins chief executive officer (CEO) Pete Redfern has stepped down due to ill health.
Company chairman, Geoff Drabble, said: “The Board and I are very sorry that Pete’s brief but promising tenure as CEO has been brought to a premature conclusion for reasons beyond his and our control, and which none of us had anticipated.”
The Board wished Redfern a speedy and full recovery, adding the search for his successor will begin immediately.
Redfern took up the job in September last year.
“On a personal level, and on behalf of the Board, I would like to thank Pete for his valuable contribution kickstarting the group’s efforts to refocus on the customer experience and re-energise our field operations. He leaves with our best wishes for the future,” said Drabble.
Adding: “The group has many inherent strengths, benefiting from nationwide coverage with market leading businesses and strong customer and supplier relationships.
“We have a great business which has had its issues in recent times, but which I am confident can build on its inherent strengths and deliver value for investors and all of its other stakeholders.”
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