Victoria (LSE:VCP), the flooring company, said chief executive Philippe Hamers will step down on 30 June and the group's principal operating divisions will be led directly by their divisional management teams.
The change places Roberto Moreno, the chief operating officer, in charge of Rugs and North America alongside his group-wide operations role, Steve Byrne as Chief Executive of UK Flooring after rejoining the business in April 2026, and Francisco Carvajal as Chief Executive, of Ceramics following his February 2026 promotion.
Victoria, in the statement, said direct divisional accountability will sharpen execution and maintain focus on the company's self-help initiatives, cash generation and deleveraging.
"Our priority is execution: delivering the self-help initiatives we have set out, generating cash, reducing leverage and rebuilding value for shareholders," commented executive chair Geoff Wilding.
Philippe Hamers said he would remain involved in the UK and Australia - as a director of its Australian business, and as chairman of the UK Flooring division - and that the actions underway aim to reduce costs, improve productivity and strengthen cash generation.
