CEO transition and divisional management structure
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Victoria PLC
('Victoria' or the 'Company')
Victoria confirms Group CEO transition and divisional management structure
Victoria PLC (LSE: VCP), the international designer, manufacturer and distributor of flooring, confirms that, further to the announcement of 1 October, 2025, regarding Philippe Hamers' intention to retire from his position as Group Chief Executive during 2026, Philippe will step down as Group Chief Executive on 30 June 2026.
Following Philippe's departure, Victoria's principal operating divisions will be led directly by their divisional management teams. Roberto Moreno, Victoria's Chief Operating Officer, will continue to head both the Rugs and North America divisions alongside his Group-wide responsibility for operations and execution across the Group's strategic priorities. The UK Flooring division will be led by Steve Byrne, Chief Executive, UK Flooring, who rejoined the Group in April 2026. The Ceramics division will be led by Francisco Carvajal, Chief Executive, Ceramics, who was promoted to the role in February 2026.
The Board believes direct divisional accountability will sharpen execution and maintain focus on the Group's self-help initiatives, cash generation and deleveraging.
Philippe will continue to support the Group as a director of the Australian business and as chairman of the UK Flooring division, working with Steve Byrne as that business executes its operational plan.
Geoff Wilding, Executive Chairman, commented:
"Philippe has made a significant contribution to Victoria over the last nine years as Group Chief Executive. During that period, the Group has expanded substantially and built leading positions in a number of flooring markets. He has also played a particularly important role in the development of the UK business, and I am pleased that Victoria will continue to benefit from his sector knowledge and operational experience in the UK and Australia.
"The recent period has been exceptionally challenging for the sector. The management structure now in place reflects the distinct characteristics of our principal divisions and gives each of them clear accountability. Our priority is execution: delivering the self-help initiatives we have set out, generating cash, reducing leverage and rebuilding value for shareholders."
Philippe Hamers commented:
"Victoria has a strong operational leadership team and a clear plan to deliver the Group's self-help initiatives. Recent years have been difficult for the flooring sector, with the after-effects of Covid, the war in Ukraine, inflation and, more recently, the Iran war, heavily affecting input prices and putting pressure on consumer demand. The actions now underway are intended to reduce costs, improve productivity and strengthen cash generation.
"I am pleased to continue supporting the Group in my new roles and look forward to working with Geoff, Steve and the wider leadership team as Victoria focuses on execution and positions the business for the next cycle."
For more information contact:
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Victoria PLC Geoff Wilding, Executive Chairman Alec Pratt, Chief Financial Officer |
www.victoriaplc.com/investors-welcome Via Edelman Smithfield PR |
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Singer Capital Markets (Nominated Adviser and Joint Broker) Rick Thompson, Phil Davies, James Fischer
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+44 (0)20 7496 3095 |
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Berenberg (Joint Broker) Ben Wright, Harry Nicholas, Tom Ballard |
+44 (0)20 3207 7800
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Edelman Smithfield (Investor Relations) Alex Simmons
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+44 (0)7970 174 353 |
About Victoria PLC (www.victoriaplc.com)
Established in 1895 and listed since 1963 and on AIM since 2013 (VCP.L), Victoria PLC, is an international manufacturer and distributor of innovative flooring products. The Company, which is headquartered in Worcester, UK, designs, manufactures and distributes a range of carpet, flooring underlay, ceramic tiles, LVT (luxury vinyl tile), artificial grass and flooring accessories.
Victoria has operations in the UK, Spain, Italy, Belgium, the Netherlands, Germany, Turkey, the USA, and Australia and employs more than 5,000 people across more than 30 sites. Victoria is Europe's largest carpet manufacturer and the second largest in Australia, as well as the largest manufacturer of underlay in both regions.
The Company's strategy is designed to create value for its shareholders and is focused on consistently increasing earnings and cash flow per share via acquisitions and sustainable organic growth.
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