Travis Perkins Chair Jasmine Whitbread to step down next month
Adds background, context, comments from interim chair, and details throughout
April 30 (Reuters) -Travis Perkins TPK.L, a British construction materials firm, said on Tuesday Chair Jasmine Whitbread would step down at the end of next month after three years in the role.
Jez Maiden, senior independent director, will take up the role of chair on an interim basis, the company said in a statement.
WHY IT'S IMPORTANT
Travis Perkins, Britain's biggest supplier of building materials, had flagged a tough year ahead after its annual profit slumped in 2023.
Whitbread is among only a handful of women leading a company in Britain's blue-chip FTSE 100.
CONTEXT
Travis Perkins, which is reviewing some of its consumer-facing Toolstation businesses in Europe, last month announced that its CEO Nick Roberts would step down.
Maiden, who assumed the role of interim chair of the Nominations Committee, will lead the search for a new CEO.
KEY QUOTES
"The Board is fully focused on the succession process for Chair and CEO," Maiden said.
"Our continued priorities are to transform our operating model, to build a stronger business and enhance cash generation, and rebuild shareholder value."
Reporting by Aby Jose Koilparambil and Yadarisa Shabong in Bengaluru; Editing by Savio D'Souza and Sherry Jacob-Phillips
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