Victoria PLC, the international designer, manufacturer, and distributor of innovative flooring, has confirmed that, after nearly nine years in the role, and following the successful completion of the Group’s refinancing of its 2026 debt maturities, together with a new £130 million super senior credit facility, Philippe Hamers has proposed to the Plc Board that he retires from his position as Group CEO around the middle of next year.

To ensure a smooth and orderly transition, the Board will begin considering options for the future management of the Group as Philippe continues to drive the performance of the business.

Management’s immediate focus remains on delivering self-help initiatives outlined at the recent full year results (which, when completed, are expected to deliver £70m annual EBITDA improvements vs FY2025), generating cash to deleverage, and rebuilding the Company’s credit rating. Further updates will be provided in due course.

Geoff Wilding, Chairman, commented: “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. As the Board considers its options for a successor, the objectives will be to maintain the focus on execution, and ensure the Company delivers value for shareholders.”

Philippe Hamers, CEO, commented: “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.”