For Immediate Release
Victoria PLC
('Victoria' or the 'Group')
Victoria Announces Board Changes
Victoria PLC (LSE: VCP), the international designer, manufacturer and distributor of innovative flooring, announces that Zachary Sternberg is leaving Victoria's board today, after five years as a non-executive director in order to rebalance his time commitments.
Geoff Wilding, Chairman, commented: "During Zach's time at Victoria, the Group has grown from a mid-sized flooring manufacturer to a global flooring group with current annual revenues of nearly £1.5 billion and 6,750 employees. In line with this growth, we recognise our obligations under the QCA Corporate Governance Code to ensure our board has an appropriate number of independent and non-executive directors. To that end we are engaging in a formal search to strengthen the Board and ensure we have the necessary skills and knowledge to lead the Company in its next stage of growth.
"I've enjoyed working with Zach a great deal over the last five years and his participation in our board discussions has been invaluable. The Board, and myself personally, would like to sincerely thank Zach for his contribution."
Zach Sternberg, said: "I have enjoyed my time working with the board at Victoria, and as I rebalance my own time commitments, I am happy to leave with such significant shareholders remaining on the board."
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About Victoria
Established in 1895 and listed since 1963 and on AIM since 2013 (VCP.L), Victoria PLC, is an international manufacturer and distributor of innovative flooring products. The Group, which is headquartered in Kidderminster, UK, designs, manufactures and distributes a range of carpet, flooring underlay, ceramic tiles, LVT (luxury vinyl tile), artificial grass and flooring accessories.
Victoria has operations in the UK, Spain, Italy, Belgium, Germany, the Netherlands, Turkey, the United States and Australia and employs approximately 6,750 people across 30 sites. Victoria is Europe's largest carpet manufacturer and the second largest in Australia, as well as the largest manufacturer of underlay in both regions.
The Group's strategy is designed to create value for its shareholders and is focused on consistently increasing earnings and cash flow per share via acquisitions and sustainable organic growth. (Further information about Victoria can be found on its website, www.victoriaplc.com.)
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