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Topps Tiles Appoints Chair Designate

Topps Tiles STockton 725 x 500

Topps Tiles Plc (LSE: TPT) ("Topps", the "Company" and together with its subsidiary undertakings, the "Group") the UK's leading tile specialist, is pleased to announce the appointment of Paul Forman as an independent non-executive director and Chair Designate of the Company.

As detailed in the 2022 Annual Report, Darren Shapland is now in his ninth year as Chair and, therefore, nearing the end of his maximum term under the UK Corporate Governance Code. To this end, the Nominations Committee, led by Keith Down, the Company's Senior Independent Director, commenced  a Chair succession plan which has now been successfully concluded with the appointment of Paul Forman.

Paul will join the board of directors of Topps (the "Board") on 1 July 2023, to allow for an orderly transition of responsibilities, and he will succeed Darren Shapland as Chair at the start of the Company's new financial year on 1 October 2023, at which point Darren will retire from the Board.

Paul is an experienced director of both listed and private equity-backed businesses, gained in a variety of executive and non-executive roles. His experience includes chief executive roles at three FTSE250 businesses: Essentra PLC, Coats Group PLC and Low & Bonar PLC. He is also a former non-executive director of Brammer PLC. He is currently Senior Independent Director at Tate & Lyle PLC and Chair Designate at FSI, the private equity-backed flavours and fragrances business.

Darren Shapland, Chair of Topps, said: "I'm delighted that we have secured an individual of Paul's calibre as Chair Designate. His strong track record, both as a PLC executive and non-executive, will be of great benefit to Topps as the business builds on its market leadership position and continues to develop and expand in the years ahead.  Paul will be a strong addition to the Topps team and I look forward to working with him on an orderly handover of responsibilities in the coming months."

Commenting on his appointment, Paul Forman said: "Topps is a business with a clear strategic focus and a strong proposition for both consumer and trade customers. The Group has come through the pandemic in good shape, with a robust balance sheet and a strong executive team, and the opportunities ahead are exciting as it continues to grow its share of the UK market for tiles and associated products. I look forward to working with the Board and the senior management team as we build on these strong foundations."

Source : Topps Tiles

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18 May 2023

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