SIG shares fall 8.3% as CEO Slark to leave for Travis Perkins

SIG shares fall 8.3% as CEO Slark to leave for Travis Perkins

SIG plc (SHI.L) shares dropped by 8.3% on Friday, May 9, 2025, following the announcement that its CEO, Gavin Slark, has resigned to take up a new role at British building materials supplier Travis Perkins plc (TPK.L) [1]. The resignation comes after Slark led SIG through a challenging period in the European construction industry [2].

Slark, who will continue as SIG's CEO until December 31, 2025, will join Travis Perkins as its new CEO and executive director starting in January 2026 [1]. He previously served as CEO of building materials distributor and DIY retailer Grafton Group (GFTU) for about 11 years [1].

The resignation has sparked a search for Slark's successor at SIG. The company's Chairman, Andrew Allner, expressed confidence in the executive team and the devolved structure that Slark left in place [2]. SIG's shares fell to their lowest level in over a year, reflecting investor concern over the leadership transition and the company's future direction.

References:
[1] https://www.tradingview.com/news/reuters.com,2025:newsml_L4N3RH0KZ:0-travis-perkins-appoints-sig-chief-gavin-slark-as-new-boss/
[2] https://www.nasdaq.com/articles/sig-plc-ceo-gavin-slark-resign-join-travis-perkins-new-role