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LONDON - Victoria PLC (LSE: VCP), a prominent international flooring company, announced today the upcoming appointment of Alec Pratt as its new Chief Financial Officer Designate. Pratt will join the Group’s board and is set to replace the outgoing CFO Brian Morgan in late-June, following three years of Morgan’s tenure.
Alec Pratt, whose previous role was Co-head of EMEA Financial Sponsor M&A at Deutsche Bank (ETR:DBKGn), brings with him a wealth of experience in the field of investment banking. With a career spanning 16 years, he has been involved in significant M&A transactions, equity and debt raises, and has developed teams within the banking sector. His background includes four years at Numis and 11 years at J.P. Morgan, where he specialized in the built environment sector.
The transition will see Morgan remain in his current role until the handover to Pratt is complete, ensuring a seamless changeover. Morgan has also agreed to provide assistance to Victoria for up to three months after stepping down from his position.
Geoff Wilding, Chairman of Victoria, expressed gratitude to Morgan for his contributions, particularly highlighting his role in integrating the Group’s largest acquisition and transforming the finance function. Wilding also extended a warm welcome to Pratt, commending his financial and capital markets expertise, which is expected to be beneficial for Victoria’s growth.
Pratt commented on his appointment, expressing enthusiasm for joining Victoria and contributing to its next phase of growth. He praised the company’s strong brand presence and customer proposition, which have historically yielded strong returns.
Victoria PLC, with operations across multiple countries including the UK, Spain, Italy, and the USA, is known for its diverse range of flooring products. The company’s strategic focus is on increasing earnings and cash flow per share through acquisitions and organic growth.
Pratt currently holds no shares in Victoria, and there are no further disclosures required in accordance with AIM Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.
This corporate update is based on a press release statement issued by Victoria PLC.
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