// Travis Perkins CEO John Carter to step down after 40 years with the company
// Carter will be replaced by Nick Robert on July 1
// Carter will remain on the board until August 5
Travis Perkins has announced that chief executive John Carter will resign later this year.
He will be replaced by Nick Roberts, currently boss of engineering firm Atkins, who will join the parent company of Wickes and Toolstation as a director and chief executive designate on July 1.
Carter joined Travis Perkins 40 years ago and has worked 18 of those years as director and the last five as chief executive.
He will step down from the board on August 5 but will remain with the company until the end of the year as part of a handover process.
Travis Perkins chairman Stuart Chambers paid tribute to the company veteran.
“I would like to thank John for his exceptional leadership which leaves Travis Perkins well placed to meet its customers’ needs and to continue to deliver long-term value growth for its shareholders and other stakeholders,” he said.
“He has led the group through periods of major change and demonstrated strong leadership during a period of significant investment and considerable market uncertainty.”
Carter’s resignation comes as Travis Perkins battles a challenging DIY market, economic uncertainty and declining consumer confidence.
In December, the company announced it would sell its plumbing and heating division and extend a cost-cutting programme as it targets savings of up to £30 million.
The company also said it would “look to review the options for maximising the value” of DIY fascia Wickes in the medium term, which could include a sale of the retailer.