Business
CEO transition and divisional management structure
Victoria PLC announced that Group CEO Philippe Hamers will step down on June 30, 2026, with divisional management teams taking direct leadership. Roberto Moreno will continue to lead Rugs and North America, Steve Byrne will head UK Flooring, and Francisco Carvajal will lead Ceramics. The company believes this structure will enhance execution, focus on self-help initiatives, cash generation, and deleveraging, while Philippe Hamers will remain involved as a director of the Australian business and chairman of the UK Flooring division. Disclaimer*
About this update from Victoria Plc
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: ...