Nick Roberts joined company five years ago from Atkins
Travis Perkins chief executive Nick Roberts is stepping down after five years in the role.
He will remain with the building products firm while it hunts for his replacement, the group said.
His departure comes after the firm said pre-tax profit last year slumped to £70m from £245m in 2022.
The group, which also owns the Toolstation chain, has been hit hard by the UK housebuilding downturn, as well as weaker demand for home improvements and repairs.
In its results, published earlier this month, Travis Perkins said a recovery in the UK construction market was “unlikely to gather any momentum” before the general election.
Company chair Jasmine Whitbread said: “While there has been good progress made in modernising the business, the board fully recognises the under-performance of the business over recent reporting periods, in the context of continued economic challenges and end-market weakness.
“We remain fully focused on improving profitability and enhancing cash generation, as well as accelerating changes to our operating model to create a simpler, more efficient business, well positioned to emerge stronger when markets recover.”
Roberts, who joined from Atkins in 2019 where he was president, added: “I am proud of the progress we have made in modernising the company.
“While the board identifies my successor, I will continue to rigorously execute on our plan and drive performance.”
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