Latest news with #GavinSlark
Daily Mail
09-05-2025
- Business
- Daily Mail
Travis Perkins poaches SIG boss as new chief executive
Travis Perkins has named the current head of roofing and insulation products supplier SIG as its next chief executive. Gavin Slark will take up the position no later than January 2026, succeeding Pete Redfern, who quit in March after just six months in charge for health reasons. Slark, 60, joined SIG two years ago following a 12-year spell running Dublin-based Grafton Group, which owns Chadwicks, Ireland's largest building materials distributor. He also previously ran plumbing and heating firm The BSS Group from 2006 to 2011, overseeing its £558million sale to Travis Perkins. His appointment at Travis Perkins follows a challenging few years for the construction materials industry, which is contending with higher interest rates and cost-of-living pressures. Travis Perkins revealed last week that its like-for-like revenues dipped by 2.1 per cent in the quarter ending March due to lower volumes in its merchanting segment. New boss: Travis Perkins has named the current head of roofing and insulation products supplier SIG, Gavin Slark, as its next chief executive That came about a month after the business declared its operating profits were almost wiped out last year due to subdued activity in the private domestic repair, maintenance and improvement market. The Northampton-based firm also blamed lower commodity prices and uncertainty caused by the UK general election and last Autumn's budget. Geoff Drabble, chair of Travis Perkins, said: 'Gavin brings with him unrivalled experience of the sector in addition to a long pedigree as a CEO of significant public companies. 'Gavin is well placed to continue the work we have started to refocus and change the way we operate in order to better serve our customers and work effectively with our suppliers, as well as engage and motivate our teams.' SIG shares plunged 14.7 per cent to 15.4p by late Friday afternoon following the announcement of Slark's appointment, making them the FTSE All-Share Index's biggest faller. In contrast, Travis Perkins shares were the FTSE 250's best performer, rising by 5.8 per cent to 617p. However, they have still plummeted by around two-thirds since the summer of 2021. Pete Redfern's brief tenure at Travis Perkins, which he joined after Nick Roberts stood down as CEO, included the company downgrading its profit forecast for the second time in three months. Andrew Allner, chairman of SIG, said: 'The board looks forward to continuing working with Gavin until his departure. 'He has steered the group well through a difficult period in the European construction industry. 'He will leave in place strong and experienced leaders in each of our businesses, all operating under SIG's well-established devolved structure.'
Reuters
09-05-2025
- Business
- Reuters
SIG's top boss Slark to resign
May 9 (Reuters) - British building materials supplier SIG (SHI.L), opens new tab said on Friday its CEO Gavin Slark will resign before the end of this year to take up a new role at peer Travis Perkins (TPK.L), opens new tab.
