LONDON (Reuters) - Travis Perkins, Britain’s largest distributor of building materials, said its veteran Chief Executive John Carter will step down in August and be succeeded by Nick Roberts, the current boss of engineering firm Atkins.
Roberts will join the business, which operates over 20 brands, as a director and CEO designate on July 1 and take the top job on Aug. 5. Carter, who has worked for Travis Perkins for over 40 years, will remain with the group until the end of 2019.
Carter has been CEO for five years and set out a new strategy last year, including the planned sale of the group’s plumbing and heating business. Travis Perkins has also said it could divest its Wickes home improvement chain in the future.
Chairman Stuart Chambers highlighted Roberts’ experience of construction, design and engineering as well as success in the adoption of digital technology.
Atkins, formerly WS Atkins, was acquired by Canada’s SNC-Lavalin in 2017.
Shares in Travis Perkins, up 27 percent so far this year, were up 1 percent at 0806 GMT, valuing the business at 3.46 billion pounds.
Reporting by James Davey; editing by Kate Holton and Emelia Sithole-Matarise