Queenbridge

The UK construction sector is facing one of the toughest trading environments in decades. Against this backdrop, we sat down with Kate Tisnley, CEO of MKM Building Supplies, to discuss what leadership under prolonged pressure demands. MKM is the UK’s largest independent builders’ merchant, with revenues over £1.1bn. Since taking the helm in 2020, Kate has led an ambitious growth strategy that has made MKM one of the fastest-growing merchants in the sector’s history, doubling turnover and significantly improving profitability.

Kate previously held senior finance and operational roles at BSS Group and the Grafton Group, where she became CEO of Buildbase. She went on to serve as Divisional Managing Director at Ibstock Plc before returning to the merchant sector to lead MKM. In 2024, she was awarded an OBE for services to construction and to diversity within the industry, and she also serves as a Non-Executive Director of the FA.

In our conversation, Kate reflects on the importance of resilience, disciplined focus and cultural integrity in an environment that tests a leader’s stamina as much as their judgement.

The UK construction sector is facing one of the toughest trading environments in decades. Against this backdrop, we sat down with Kate Tisnley, CEO of MKM Building Supplies, to discuss what leadership under prolonged pressure demands. MKM is the UK’s largest independent builders’ merchant, with revenues over £1.1bn. Since taking the helm in 2020, Kate has led an ambitious growth strategy that has made MKM one of the fastest-growing merchants in the sector’s history, doubling turnover and significantly improving profitability.

Kate previously held senior finance and operational roles at BSS Group and the Grafton Group, where she became CEO of Buildbase. She went on to serve as Divisional Managing Director at Ibstock Plc before returning to the merchant sector to lead MKM. In 2024, she was awarded an OBE for services to construction and to diversity within the industry, and she also serves as a Non-Executive Director of the FA.

In our conversation, Kate reflects on the importance of resilience, disciplined focus and cultural integrity in an environment that tests a leader’s stamina as much as their judgement.

Having led through both the 2008 financial crash and COVID-19, Kate is well acquainted with steering businesses through turbulent markets. However, in her view, the current environment has proved more challenging for a different reason; it is not simply the depth of the downturn, but its duration:

“I was in a leadership role in 2008 during the financial crisis and also during COVID. But I think the difference between those two periods and now is just the length of time that the challenge has continued […] The 2008 GFC [Global Financial Crisis] was a very deep recession, but it bounced back fairly quickly. COVID felt like a very long period, but relative to the three-and-a-half-year trough we're in at the minute, it was actually quite short in comparison. So I think it's the length of time of this trough that, for me as a leader, causes the most angst and therefore becomes the most challenging.”

Leading through a sustained trough has brought different leadership questions into focus for Kate, particularly around how to sustain energy, remain consistent, and keep perspective when pressure does not lift quickly.

Having led through both the 2008 financial crash and COVID-19, Kate is well acquainted with steering businesses through turbulent markets. However, in her view, the current environment has proved more challenging for a different reason; it is not simply the depth of the downturn, but its duration:

“I was in a leadership role in 2008 during the financial crisis and also during COVID. But I think the difference between those two periods and now is just the length of time that the challenge has continued […] The 2008 GFC [Global Financial Crisis] was a very deep recession, but it bounced back fairly quickly. COVID felt like a very long period, but relative to the three-and-a-half-year trough we're in at the minute, it was actually quite short in comparison. So I think it's the length of time of this trough that, for me as a leader, causes the most angst and therefore becomes the most challenging.”

Leading through a sustained trough has brought different leadership questions into focus for Kate, particularly around how to sustain energy, remain consistent, and keep perspective when pressure does not lift quickly.

Having led through both the 2008 financial crash and COVID-19, Kate is well acquainted with steering businesses through turbulent markets. However, in her view, the current environment has proved more challenging for a different reason; it is not simply the depth of the downturn, but its duration:

“I was in a leadership role in 2008 during the financial crisis and also during COVID. But I think the difference between those two periods and now is just the length of time that the challenge has continued […] The 2008 GFC [Global Financial Crisis] was a very deep recession, but it bounced back fairly quickly. COVID felt like a very long period, but relative to the three-and-a-half-year trough we're in at the minute, it was actually quite short in comparison. So I think it's the length of time of this trough that, for me as a leader, causes the most angst and therefore becomes the most challenging.”

Leading through a sustained trough has brought different leadership questions into focus for Kate, particularly around how to sustain energy, remain consistent, and keep perspective when pressure does not lift quickly.

Put Your Own Oxygen Mask On First

Put Your Own Oxygen Mask

On First

While leaders are always expected to project confidence and direction, that expectation intensifies during periods of instability. As the downturn in construction has ground on, Kate observed that she has become increasingly aware of the weight her role carries, including for the people depending on her.

"I’m very conscious that 3,300 people are dependent on me making the right decisions and making sure that we set the right strategy for the business, we create the right cultures, we create an environment that people are happy to work in. So, I’m never flippant about that responsibility. It is a privilege, but it also creates a lot of pressure."

That responsibility, she suggests, is not only commercial and strategic, but also emotional. In a prolonged downturn, leaders are required to absorb uncertainty, project steadiness and help others remain constructive, often for far longer than in a more short-lived crisis.

"I’m more conscious now about my impact on others. I have found, particularly in the last 18 months because this has gone on for so long in construction, that I spend more time trying to support others and be positive and [show] there will be a way through. And that does take a lot of emotional energy."

While leaders are always expected to project confidence and direction, that expectation intensifies during periods of instability. As the downturn in construction has ground on, Kate observed that she has become increasingly aware of the weight her role carries, including for the people depending on her.

"I’m very conscious that 3,300 people are dependent on me making the right decisions and making sure that we set the right strategy for the business, we create the right cultures, we create an environment that people are happy to work in. So, I’m never flippant about that responsibility. It is a privilege, but it also creates a lot of pressure."

That responsibility, she suggests, is not only commercial and strategic, but also emotional. In a prolonged downturn, leaders are required to absorb uncertainty, project steadiness and help others remain constructive, often for far longer than in a more short-lived crisis.

"I’m more conscious now about my impact on others. I have found, particularly in the last 18 months because this has gone on for so long in construction, that I spend more time trying to support others and be positive and [show] there will be a way through. And that does take a lot of emotional energy."

Carrying that weight over an extended period, Kate argues, demands a correspondingly deeper level of resilience:

“The level of pressure is higher and you've got to therefore manage that by a higher level of resilience. Otherwise, it will kind of eat you up and you won't be able to do your job.”

Kate’s reflections therefore bring a less visible side of leadership into focus: the need to restore one’s own energy in order to continue giving it to the business and the people within it. Kate is clear that recharging is not separate from the job of leadership, but part of what enables a leader to remain effective over time.

“You have to be really conscious about, “how do I get my own battery charged again […] It's that analogy of being on the plane, isn't it, and putting your own oxygen mask on first, because without that, you can't help others.”

She is equally clear that though resilience may be shaped by background and experience, it is also something leaders must actively cultivate by understanding what restores their energy and protecting time for it:

“I’ve definitely identified more objectively what gives me energy and who gives me energy […] I’m really obsessional about where I spend my time and how I spend my time.”

None of this is about stepping back from the weight of leadership. On the contrary, Kate is explicit that carrying it is a privilege. However, sustaining that responsibility over the long term requires the self-awareness, recognising when your own energy is depleted, understanding what restores it, and being deliberate about maintaining the resilience the role demands.

Carrying that weight over an extended period, Kate argues, demands a correspondingly deeper level of resilience:

“The level of pressure is higher and you've got to therefore manage that by a higher level of resilience. Otherwise, it will kind of eat you up and you won't be able to do your job.”

Kate’s reflections therefore bring a less visible side of leadership into focus: the need to restore one’s own energy in order to continue giving it to the business and the people within it. Kate is clear that recharging is not separate from the job of leadership, but part of what enables a leader to remain effective over time.

“You have to be really conscious about, “how do I get my own battery charged again […] It's that analogy of being on the plane, isn't it, and putting your own oxygen mask on first, because without that, you can't help others.”

She is equally clear that though resilience may be shaped by background and experience, it is also something leaders must actively cultivate by understanding what restores their energy and protecting time for it:

“I’ve definitely identified more objectively what gives me energy and who gives me energy […] I’m really obsessional about where I spend my time and how I spend my time.”

None of this is about stepping back from the weight of leadership. On the contrary, Kate is explicit that carrying it is a privilege. However, sustaining that responsibility over the long term requires the self-awareness, recognising when your own energy is depleted, understanding what restores it, and being deliberate about maintaining the resilience the role demands.

If prolonged pressure tests resilience, it also sharpens the need for perspective. Kate speaks candidly about the risk of frustration or negativity taking hold when difficult conditions persist, and about the discipline required to reset against reality rather than emotion:

“I try and be quite practical as well and quite facts-based […] I just stop and go 'right, let’s just think about the facts. I’m talking a load of negativity, but actually the facts don’t support that' […] I’m very data-driven so there are plenty of data points that I can get hold of to say, 'actually, that’s not the reality. This is how it is. And there is always a way forward.'"

That instinct to return to evidence underpins not only Kate’s approach to leadership, but what she expects from her team. In tougher markets, she argues, the premium on focus becomes even greater:

“Even more so in times like this, you've got to be really ruthless about what you focus on, what you don't focus on, and make sure that you deliver […] You need to focus even more arrow-like on the areas that make a difference when the market's tough. You have to make sure you are all aligned from an objectives perspective and then absolutely ruthlessly go after and make sure you deliver it."

This, in turn, ties shapes the kinds of people she values around her:

“The best leaders are the ones that are cognisant of the challenges but are always thinking about how do they fix them. So I’m really keen on people that are problem solves and therefore probably more positive in nature."

For Kate, then, the discipline of returning to the facts is part of building resilience: a way of steadying judgement, regaining perspective and keeping the business focused on what matters most.

If prolonged pressure tests resilience, it also sharpens the need for perspective. Kate speaks candidly about the risk of frustration or negativity taking hold when difficult conditions persist, and about the discipline required to reset against reality rather than emotion:

“I try and be quite practical as well and quite facts-based […] I just stop and go 'right, let’s just think about the facts. I’m talking a load of negativity, but actually the facts don’t support that' […] I’m very data-driven so there are plenty of data points that I can get hold of to say, 'actually, that’s not the reality. This is how it is. And there is always a way forward.'"

That instinct to return to evidence underpins not only Kate’s approach to leadership, but what she expects from her team. In tougher markets, she argues, the premium on focus becomes even greater:

“Even more so in times like this, you've got to be really ruthless about what you focus on, what you don't focus on, and make sure that you deliver […] You need to focus even more arrow-like on the areas that make a difference when the market's tough. You have to make sure you are all aligned from an objectives perspective and then absolutely ruthlessly go after and make sure you deliver it."

This, in turn, ties shapes the kinds of people she values around her:

“The best leaders are the ones that are cognisant of the challenges but are always thinking about how do they fix them. So I’m really keen on people that are problem solves and therefore probably more positive in nature."

For Kate, then, the discipline of returning to the facts is part of building resilience: a way of steadying judgement, regaining perspective and keeping the business focused on what matters most.

Alongside resilience and focus, a third theme to emerge from Kate’s reflections was the importance of culture, particularly when markets are tough. Though resilience may enable an individual leader to withstand uncertainty and pressure, culture is what helps an organisation do the same. In her view, a strained market should not cause a business to abandon the behaviours and principles it claims to value. If the culture shifts fundamentally when the market turns, then it was never as deeply embedded as it appeared.

“Keeping the culture on track within a large organisation is very difficult. So you have to make sure you've got consistent messaging, [and] that as leaders, we're not changing our culture, because you can't have one culture when times are good and then a different culture when times are difficult. The culture is going to move slightly, and the leadership style might move slightly, but it can't fundamentally change direction, because otherwise it was never true in the first place.”

For Kate, “all the winning businesses have got winning cultures” and, as such, it is one leadership’s central responsibilities to build and preserve those cultures:

“Staying consistent as a leader and then my team staying consistent and all of the leaders in our network, all of the branch directors, is really, really important.”

In turn, this approach to culture underpins how Kate thinks about hiring, where functional capability is necessary but not sufficient. When appointments do not work out, the issue is often as much cultural as it is technical. And when forced to choose between the two, she is clear on the order of priority.

“When you recruit people […] you’re making on call on them in terms of can they do the job functionally, but also do they fit culturally? […] I’d rather have somebody who is a strong cultural fit and maybe not as strong functionally than someone who is really strong functionally and doesn’t fit culturally.”

What emerges is a view of culture not as a softer complement to performance, but as one of its foundations.

In a context where many leaders a managing a prolonged period of uncertainty, leaders need resilience to maintain their own capacity, clarity to stay focused on what matters, and a culture strong enough to carry those behaviours through the wider organisation. As Kate puts it, there is always a way forward. The task of leadership is to create the conditions in which people and businesses can keep finding it.