No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Victoria said on Wednesday that chief executive officer Philippe Hamers plans to retire after nearly nine years in the role.
"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," said AIM-listed Victoria, which makes and distributes flooring.
Victoria said management's immediate focus remains on delivering self-help initiatives outlined at the recent full-year results, generating cash to deleverage, and rebuilding the company's credit rating.
Chairman Geoff Wilding said: "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."
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.