Victoria PLC Announces CEO Transition; Focus Remains on Self-Help Initiatives

Victoria PLC (LSE: VCP) has announced that CEO Philippe Hamers will retire around mid-2026 after nearly nine years in the role.

The announcement follows the successful refinancing of the Group's 2026 debt maturities and securing a new £130 million super senior credit facility.

The company said the Board will now begin considering options for his succession to ensure a smooth transition, with Hamers continuing to lead operations in the interim.

VCP's immediate priorities remain centered on executing self-help initiatives, projected to deliver £70 million in annual EBITDA improvements compared to FY2025.

Management is said to be focused on generating cash to reduce leverage and improve the company's credit rating. Further updates regarding the CEO transition and strategic progress will be provided in due course.

Chairman Geoff Wilding emphasized Hamers' significant contribution to Victoria's growth. “Philippe's leadership has seen Victoria transformed from a collection of high-quality flooring companies into an integrated flooring Group that is Europe's largest,” Wilding stated.

Wilding added that the Board’s primary objective during the succession process will be to maintain focus on execution and ensure continued value creation for shareholders.

Hamers expressed confidence in the company's operational leadership team. “Victoria has built a robust operational leadership team who are committed to delivering our self-help initiatives over the coming months. I am confident these initiatives will position the Group to outperform across the next cycle,” he commented.