Flooring group Victoria PLC has announced the appointment of Brian Morgan as its new chief financial officer (CFO).
Following an ‘extensive search’, Brian will succeed Mike Scott, who is retiring from the business after more than six years in the role due to personal and family reasons.
Mike will continue in his role until Brian starts on 22 August 2022 and will then remain as a non-executive director until the following AGM to assist with the transition. Thereafter he will continue to be available as needed to assist Victoria as it continues to create wealth for shareholders.
Brian is joining Victoria from FTSE250 group, Synthomer plc, where he has been director of group finance since 2017.
Brian has spent his entire career operating across multi-national companies like Victoria and has a proven ability to adapt to vastly different business cultures, having managed teams across the globe.
Geoff Wilding, chairman, commented: “During Mike’s time at Victoria, the Group has grown from a small UK-centric carpet manufacturer with revenues of c. £250 million in 2016 to a global flooring group with current annual revenues of c. £1.5 billion. In line with this growth, Mike has led the Group through several successful capital raising processes, most recently the €750 million senior bond issue in March 2021, the (undrawn) £150 million revolving credit facility, and the £150 million follow-on preferred equity issue in January this year.
“Mike has also built a strong, integrated finance team that includes c. 20 senior finance professionals across eight countries. As you would expect from Mike, he leaves us in a thoughtful way, with a transparent and long-planned timeline, a robust succession plan, and a strong finance team. The Board would like to thank Mike for his contribution.
“On behalf of the Board and all at Victoria, we are delighted to welcome Brian as our new CFO. Brian’s considerable experience and knowledge will be extremely beneficial for Victoria’s continued growth and we look forward to updating shareholders on our progress.”
Mike Scott, Chief Financial Officer, said: “It’s been a privilege to be a part of Victoria’s journey and part of the management team. I’m a 100% believer in Victoria’s future and will be remaining a long-term shareholder. I have been working to ensure a smooth transition to my successor, Brian, who is uniquely qualified to take on this role and will continue to drive Victoria’s growth story with Geoff, Philippe and the rest of the team.”