5th Nov 2019 09:31
(Alliance News) - Topps Tiles PLC on Tuesday said Chief Executive Matt Williams is stepping down at the end of November and will be succeeded by the firm's chief financial officer.
Topps - a retailer selling various types of tiles for use in flooring, walls, and bathrooms - has selected CFO Rob Parker to replace Williams when he departs on November 29. However, Williams will stay on with Topps as an advisor until May 2020 so as "to ensure a smooth handover".
Williams' departure will fall in the same week as the company's 2019 annual results.
Non-Executive Chair Darren Shapland said: "Matt has made a tremendous contribution to the business over the last 20 years and in particular over the last 12 years as chief executive. During this time he has reshaped the retail business, completed a very successful re-branding and led the investment into the commercial tile market. On behalf of the board I wish him every success for the future. "
Topps said is has begun the search for a new CFO to succeed Parker, who joined the Topps board in 2007 as finance director.
Shares in Topps were down 1.6% at 72.00 pence in London on Tuesday morning.
By Anna Farley; annafarley@alliancenews.com
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