Pete Redfern, the new chief executive of Travis Perkins, is setting a strategic course for the company’s future.
- Redfern aims to refocus the company on operational efficiency and customer service.
- Immediate priorities include driving branch-led performance and improving business efficiency.
- Travis Perkins has experienced a revenue decline and market share loss, prompting strategic changes.
- Redfern will simultaneously hold the role of managing director for the General Merchant business to streamline operations.
Pete Redfern, who recently assumed the role of chief executive at Travis Perkins, is implementing significant strategic changes to steer the company towards better performance. His arrival marks a critical juncture as he aims to pivot the company back to its core strengths, focusing on operational execution and customer service excellence. During his tenure as chief executive of Taylor Wimpey, Redfern cultivated a reputation for effective leadership over 14 years, which he now brings to Travis Perkins.
Within his initial weeks, Redfern has identified key strengths of the company, including its expansive branch network, strong supplier and customer relationships, and a robust team of managers and commercial leaders. He emphasises that the company’s role in the construction industry is pivotal, as it bridges customers with essential products and tools while addressing fragmented supply chains. However, he acknowledges that internal distractions have hindered performance, and refocusing on execution is paramount.
Redfern’s strategy includes immediate efforts to drive branch-led performance, encouraging motivation among staff. Additionally, he seeks further ways to enhance operational efficiency in anticipation of the UK’s construction market recovery. This includes supporting ongoing measures like cost discipline, improved capital management, and the strategic withdrawal from Toolstation France.
The company’s recent performance, however, requires urgent attention. A reported decline in revenue by 5.7% in the third quarter highlights the challenges ahead. The General Merchant business has notably lost market share over the summer leading up to Redfern’s leadership. To address these issues and streamline operations, Redfern will also manage the General Merchant business, aiming to facilitate reporting and strategy development alongside the group leadership.
Redfern expresses confidence in bringing significant improvements, leveraging both his dual roles and the collective expertise of his leadership team. He remains committed to enhancing performance and effectuating change, setting Travis Perkins on a trajectory poised for recovery and growth.
With Redfern at the helm, Travis Perkins aims for a revitalised focus on efficient operations and market recovery.
