LONDON: Victoria PLC (LSE: VCP), the international flooring group, announced Tuesday that Group CEO Philippe Hamers has proposed stepping down from his role around mid-2026, following nearly nine years of leadership and the successful completion of the company’s refinancing initiatives.
The announcement comes after Victoria secured a new £130 million super senior credit facility and refinanced its 2026 debt maturities. The Board will begin evaluating succession options to ensure a smooth transition, while Hamers continues to lead operational performance.
Immediate priorities for management include executing self-help initiatives outlined in the company’s recent full-year results, which are expected to deliver £70 million in annual EBITDA improvements compared to FY2025. The Group also aims to generate cash for deleveraging and restore its credit rating.
Chairman Geoff Wilding praised Hamers’ tenure, stating, “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. He has been particularly responsible for the Group’s winning strategy in the UK.”
Hamers added, “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 out-perform across the next cycle.”