Victoria Regulatory News (VCP)

1 Oct 2007 07:01

Victoria PLC01 October 2007 Issued by Citigate Dewe Rogerson Ltd, BirminghamDate: Monday, 1 October 2007 Embargoed: 7.00am Victoria PLC ("Group" or "Company") Leading manufacturers of high quality carpets in the UK, Australia and Ireland Directorate Changes As part of the Group's strategic development programme, the Directors havedecided that it is now an appropriate time to announce the succession plans thatthe Board has put in place with regard to the composition of the Non-ExecutiveDirector team. • Appointment of New Non-Executive Directors The Company is pleased to announce the appointments of Mr Aram Shishmanian andMs Nikki Beckett to the Board as Non-Executive Directors with effect from Monday1 October 2007. Aram Shishmanian Aram (56) has over 30 years experience as a management consultant working withmany of the leading financial services firms internationally and operating atboard and senior executive levels. He joined Accenture (formerly AndersenConsulting) in 1976 and became a partner in 1987. After several leadershiproles, he was promoted to Global Managing Partner of the financial marketsindustry practice, a position he held until 1998, when he was then promoted toSenior Partner, a position he held until 2003. His current appointments include: Non-Executive Director of Resolution PLC, (aFTSE-100 company and the largest UK insurance consolidator), an independentmember of the International Executive of Lovells LLP, (an international lawfirm), Chairman of Chase Cooper Ltd (a risk management consulting firm),Non-Executive Director of Carthesio (a Swiss private bank), and Trustee of MarieCurie Cancer Care. He is a member of the International Advisory Board of theCass Business School and City University. He also holds a BA in Economics withHonours as well as an MBA. The Board of Victoria consider that Mr Shishmanian's financial and corporateexperience from both a small business to a global perspective will complementthe skills of other members of the Group's Board and operating teams. Mr Shishmanian will be the Company's Senior Independent Non-Executive Director,Chairman of the Company's Audit Committee and a member of both the Remunerationand Nominations Committees. Nikki Beckett Nikki (46) brings to the Board entrepreneurial skills and a comprehensive,all-round understanding of business. Nikki was recognised by Ernst & Young in 2000 when she was awarded 'Entrepreneurof the Year' and in 1999 when she was named 'Veuve Clicquot Businesswoman of theYear'. Both awards acknowledged her achievements with NSB Retail Systems PLCwhich she founded in 1994, following a successful 15-year career with IBM.Nikki took NSB public in 1997 and she was Group Chief Executive Officer untilshe left the Board in March of this year. The Board of Victoria consider that Nikki's comprehensive all-roundunderstanding of business, in particular IT software, from an outsourcing andcustomer service knowledge perspective, will add value and benefit the Group inits next stage of development. Nikki will be a Member of the Nominations, Audit and Remuneration Committees. • Retirement of Current Non-Executive Directors The Company also announces the planned retirements of the followingNon-Executive Directors: Keith Ackroyd, Senior Independent Non-Executive Director Mr Ackroyd (73) has informed the Directors that he wishes to step down andretire from the Board with effect from 2 December 2007, having been with theCompany since August 1998. Bob Gilbert, Director and Non-Executive Chairman Mr Gilbert (59) was appointed in July 1996 and his current contractual letter ofappointment is due to expire on 10 May 2008. However, Mr Gilbert has indicatedthat having already served over 11 years on the Board that he too would like tostep down from the Board and retire from the Company on 2 December 2007. • Chairman Elect The Board considers that it is an appropriate time for Alexander Anton, who iscurrently a Non-Executive Director, to take up the position as Non-ExecutiveDirector and Chairman, a role he will assume with effect from 3 December 2007. Alexander Anton Alexander (47) joined the Board of Victoria PLC in 1995, having previously beeninvolved with the Group's principal trading subsidiary, Victoria Carpets since1987. He is founder and Executive Chairman of Fraser Corporate Real Estate, aproperty management business and Legacy Portfolio, a lease liability fund. Hewas also Chairman of the Federation of Corporate Real Estate Advisors from 2005to 2007. Until recently, he was Chairman of The Queen's Club, a position he heldfor three years, before stepping down after having led the Members' consortiumin its successful acquisition of the Club from the LTA in the summer. Mr Anton will also be Chairman of the Company's Remuneration and NominationsCommittees. Commenting on the Non-Executive Directorate changes, Alan Bullock, GroupManaging Director, Victoria PLC said: "The timing of these changes has been put forward by Mr Gilbert and Mr Ackroydand their decision clearly allows for an orderly transition by the Company'scurrent Non-Executives to the new team whilst also dovetailing well with theGroup's strategic planning programme for the future. "On behalf of the Executive Members of the Board, Employees and Shareholders, Iwould like to thank both Bob and Keith for their immense contribution andcommitment to the Group's development over the last decade. "Bob Gilbert joined Victoria as Chairman in 1996 and, together with theExecutive team appointed at that time, has played a key part in thereorganisation and brand repositioning of the business to form the foundationupon which the Company has established its leading market position today. KeithAckroyd's experience, stewardship and wise counsel will be sadly missed.However, we thank them for their assistance in recruiting these high qualitypeople and wish them both well in the future." Bob Gilbert, Chairman at Victoria added: "I have thoroughly enjoyed my Chairmanship and I retire leaving the Group in astrong position ready for its next stage of development. "I would like to welcome Aram and Nikki to Victoria. Both bring a wealth ofknowledge and experience gained from a variety of roles undertaken within UK andglobal businesses. These new skills complement the current Executive team andwill assist us to further build on our solid market position and brand in the UKand overseas. "We congratulate Alexander on his nomination as Chairman. The extensivecommercial experience gained from a variety of outside business interests willstand him in good stead to take on this new role. "With the strong operating management teams at Victoria coupled with thestrength and depth of experience on the Board, the Company will be wellpositioned to take advantage of any opportunities that arise". No further details regarding Aram Shishmanian, Nikki Beckett and Alexander Antonare required to be disclosed to comply with Rule 9.6.13 of the Listing Rules. Enquiries:Alan Bullock, Group Managing Director Fiona Tooley, DirectorIan Davies, Group Finance Director Keith Gabriel, Senior Account ManagerVictoria PLC Citigate Dewe RogersonTel: +44 (0) 1562 749640 Tel: +44 (0) 121 455 8370Mobile: +44 (0) 7785 325701 (AB) Mobile: +44 (0) 7785 703523 (FMT)www.victoria.plc.uk This information is provided by RNS The company news service from the London Stock Exchange