Travis Perkins PLC Travis Perkins Plc : Directorate Change
27 June 2017 - 4:00PM
UK Regulatory
TIDMTPK
Appointment of Chairman Designate
Travis Perkins Plc (the "Company") has today announced the appointment
of Stuart Chambers as Chairman with effect from November 2017. Stuart
will join the Board of the Company from 1 September 2017 as a
non-executive director and Chairman Designate and will succeed Robert
Walker as Chairman when Robert retires from the Board in November 2017.
Stuart has had a long executive career which included 13 years at
Pilkington plc and NSG Group (which acquired Pilkington in 2006),
ultimately serving as CEO of both companies. Prior to that Stuart spent
10 years at Mars and 10 years at Shell in a range of senior operational
management roles. Stuart is currently a member of the Takeover Panel and
is the Chairman designate at Anglo American, joining that Board on 1
September 2017. He was chairman of ARM Holdings plc and Rexam plc until
last year and has also served as a director on the boards of Tesco plc,
Smiths Group plc, Manchester Airport and Associated British Ports.
John Carter, Chief Executive Officer said: "I would like to thank Robert
for his immense contribution to our success during his tenure. His wise
counsel and great experience will be missed when he retires. We wish him
all the best for the future. I am delighted that Stuart has agreed to
Chair our Board through our next phase of growth and development"
Commenting on his appointment, Stuart Chambers said:
"It will be an honour to become Chairman of this great company and I
look forward to working with the Board and John Carter and his team and
playing my part in helping guide Travis Perkins to further success in
the future."
Robert Walker, Chairman, commented:
"It has been a privilege to have been the Chairman of Travis Perkins for
almost eight years. It is a company with a great history and strong and
proven business model and I am confident that Stuart is the right person
to chair the Board for the next phase of the Company's development. I
am very pleased that Stuart will be joining our board in September and
succeeding me as Chairman later in the year. Good medium term
succession planning is important and this appointment is the result of a
thorough process."
FOR MORE INFORMATION PLEASE CONTACT:
David Allchurch, Tulchan +44 (0) 20 7353 4200
NOTES TO EDITORS
Stuart Chambers served as Chairman of ARM Holdings plc (2014-2016) and
Rexam plc (2012-2016). He served as a non-executive director on the
boards of Tesco plc (2010-15), Manchester Airport Group plc (2010-13)
and Smiths Group plc (2006-2012). There are no additional details to
disclose under Listing Rule 9.6.13R in respect of the appointment of
Stuart Chambers.
REMUNERATION ARRANGEMENTS
As Chairman, Stuart Chambers will receive a fee of GBP320,000 p.a. which
covers all duties. This fee is fixed for a period of 3 years and will be
reviewed in December 2020. 25% of the fee will be paid in shares and
75% will be paid in cash. On joining he will receive one third of the
full fee (on a pro rata basis) until becoming Chairman in November 2017.
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Travis Perkins PLC via Globenewswire
http://www.travisperkinsplc.co.uk/
(END) Dow Jones Newswires
June 27, 2017 02:00 ET (06:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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