Travis Perkins PLC Travis Perkins Plc : Directorate Change

 
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                                                               [phone] 
 
 
   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.