Last checked at 7 Feb 2023 07:00
7 February 2023
Victorian Plumbing Group plc
("Victorian Plumbing" or the "Group")
CFO Succession
Victorian Plumbing Group plc (AIM: VIC), the UK's leading online specialist bathroom retailer, announces that Paul Meehan, the Group's Chief Financial Officer ("CFO"), has advised the Board that he wishes to step down from his role on 31 March 2023 in order to pursue other opportunities. The Board is pleased to announce that Daniel (Dan) Barton, currently the Group's Director of Finance, has been chosen to replace Paul as CFO. As a result, Dan will be appointed to the Board on 1 April 2023. Paul will remain with the business during his notice period until 30 June 2023 to ensure an orderly handover of his responsibilities. Dan has also recently assumed the role of Company Secretary.
Dan joined Victorian Plumbing in August 2022 from DWF Group plc, where he was Deputy CFO for three years. Prior to this, Dan was Deputy CFO and Company Secretary at Wilmington Group plc, having previously qualified as a Chartered Accountant at PwC LLP.
Mark Radcliffe, Founder & CEO of Victorian Plumbing, commented:
"I would like to take this opportunity, on behalf of the Board, to thank Paul for his significant contribution to Victorian Plumbing since he joined the business in 2020. His work preparing the finance function and the wider Group for its IPO in 2021 has ensured that the business has the necessary systems and structures in place to deliver its growth ambitions. We wish Paul all the best with his future endeavours.
"I am delighted that Dan has agreed to take up the CFO position. He has worked alongside Paul since last year and has already made a significant contribution to the finance function and the wider Group and the Board are confident that he is the right person to succeed Paul as CFO."
-ENDS-
For further information, please contact:
Victorian Plumbing Group plc Mark Radcliffe, Chief Executive Officer Paul Meehan, Chief Financial Officer Daniel Barton, Director of Finance and Company Secretary
| via FTI Consulting +44 20 3727 1000 |
FTI Consulting (Financial PR) Alex Beagley, Eleanor Purdon, Harriet Jackson, Amy Goldup
| +44 20 3727 1000 VictorianPlumbing@fticonsulting.com |
Houlihan Lokey UK Ltd (Nominated Adviser) Sam Fuller, Tim Richardson | +44 20 7484 4040 |
Barclays Bank PLC (Joint Broker) Nicola Tennent, Stuart Muress | +44 20 7623 2323 |
Numis Securities Limited (Joint Broker) Luke Bordewich, Tom Jacob, Oliver Steele | +44 20 7260 1000 |
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Additional information on Daniel Barton:
Daniel Barton, aged 36, holds or has held in the past five years the following directorships and partnerships:
Current | Past five years |
None | Mercia Group Limited (a trading subsidiary of Wilmington Group plc)
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As at 2 February 2023, Mr Barton has 208,334 restricted share awards and 42,825 shares held.
Save as disclosed above, Mr Barton has confirmed that no further information is required to be disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies.
About Victorian Plumbing Group
Victorian Plumbing is the UK's leading online specialist bathroom retailer, offering a wide range of over 32,000 products to B2C and trade customers. Victorian Plumbing offers its customers a one-stop shop solution for the entire bathroom with more than 125 own and third-party brands across a wide spectrum of price points.
The Group's product design and supply chain strengths are complemented by its creative and brand-focused marketing strategy, which predominantly focuses on online channels to drive significant and growing traffic to its website.