Pete Redfern leaves Travis Perkins due to ill health

Pete Redfern, chief executive of Travis Perkins, is stepping down from his post with immediate effect due to ill health.

The builders merchant said that consistent with its values, its board supported Redfern’s “understandable decision to prioritise his health”, wishing him a full and speedy recovery.

Travis Perkins’ chair Geoff Drabble will work with the company’s management team to ensure its stability “and that it remains focused on progressing the actions that are already underway to improve performance, enhance profitability and create sustainable value for shareholders,” Travis Perkins said in a statement. The search for Redfern’s successor will begin immediately.

Drabble praised Redfern’s “brief but promising tenure as ceo”.

He said: “On a personal level, and on behalf of the board, I would like to thank Pete for his valuable contribution kickstarting the group’s efforts to refocus on the customer experience and re-energise our field operations. He leaves with our best wishes for the future.

“The group has many inherent strengths, benefiting from nationwide coverage with market leading businesses and strong customer and supplier relationships. We have a great business which has had its issues in recent times, but which I am confident can …