SIG plc, the Sheffield-based international building materials supplier, said on Friday that Gavin Slark has resigned as the group’s CEO.
Slark, who has been SIG CEO since February 2023, will now join Travis Perkins plc as CEO.
“Gavin will continue as SIG’s CEO for a transitionary period, until a date no later than 31 December 2025,” said SIG.
“A process is now underway to identify a successor as CEO.”
SIG chairman Andrew Allner 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.
“The whole executive team, together with the board, are very focused on executing the initiatives in place to improve our businesses, which will continue to drive the Group’s operating and financial performance.”
Travis Perkins plc said: “Following a rigorous search process, the board of the company has appointed Gavin Slark as its next Chief Executive Officer (CEO) and as an executive director of the Company with effect no later than 1 January 2026.
“Gavin is a highly experienced public company CEO and has significant experience of the building materials and merchanting industry.
“He has been CEO of SIG plc since 2023, prior to which he was CEO of Grafton Group plc between 2011 and the end of 2022. Between 2006 and 2011, Gavin was CEO of The BSS Group plc before its acquisition by Travis Perkins.”
Travis Perkins chair Geoff Drabble said: “The Board and I are delighted that Gavin has agreed to join us. We are all very much looking forward to working with him.
“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.”
Travis Perkins added: “Gavin will receive an annual salary similar to that paid to his predecessor. He will also be eligible for annual bonus and long term incentive plan awards at the same level as the previous incumbent and in accordance with the Directors’ Remuneration Policy in force from time to time.
“He will receive benefits including, but not limited to, pension contributions in accordance with the Directors’ Remuneration Policy in force from time to time. Gavin will also receive replacement awards on a like-for-like basis as compensation for remuneration that will be forfeited on leaving his current employer. Further detail will be set out in the 2025 Directors’ Remuneration Report.”