Travis Perkins promotes Tony Buffin, poaches Alan Williams from Greencore

Travis Perkins has promoted its chief financial officer Tony Buffin to the role of chief operating officer, with Alan Williams joining the group to replace him with effect from 3 January 2017.

The changes, which are being made as part of the group’s longer-term planning, will see Buffin take line responsibility for the plumbing and heating division as well as leading the development of Toolstation in the UK and Europe.

The company said Williams – currently chief financial officer at Greencore – has a broad range of experience in both corporate and operational roles within large, complex and global public businesses.

Travis Perkins said he has played an important role as part of the Greencore team developing the business and increasing the market value from £200m to £1.4bn over five years.

His earlier career was spent with Cadbury Schweppes in a variety of commercial and operational finance roles in the UK, France and the USA.

Non-executive chairman Robert Walker said: “On behalf of the board and all stakeholders I would like to congratulate Tony on his promotion; since joining the group Tony has developed a high quality finance team across the organisation, helped drive and articulate our strategy for growth and our focus on returns, built strong relationships with our shareholders and analyst communities and significantly improved the cash and funding position of the group.

"I am delighted that Alan Williams is joining the Travis Perkins board. We are fortunate that we have been able to attract such a strong senior finance professional with broad experience across multiple sectors. The board is confident that Alan will contribute further to the development of the group and returns to shareholders and we look forward to welcoming him to the team.”

At 0856 BST, Travis Perkins shares were up 0.7% to 1,589p.