Vic­to­ria Plumb founder steps down as CEO

Yorkshire Post - Business - - BUSINESS -

THE CHIEF ex­ec­u­tive of bath­room re­tailer Vic­to­ria Plumb has stepped down from the busi­ness, it has emerged.

Ja­son Walker, who grew the Hull-based com­pany into one of the largest on­line and mail or­der bath­rooms in the UK, has ap­pointed Paul McCle­naghan as its new chief ex­ec­u­tive.

A Vic­to­ria Plumb spokesman said: “(Mr McCle­naghan) brings over 25 years of ex­pe­ri­ence in retail, in­clud­ing as CEO at JTF Whole­sale and in roles at Hal­fords PLC and Dixons Group.”

He added: “Ja­son re­mains an ac­tive board mem­ber and con­tin­ues to ad­vise the com­pany.”

US pri­vate equity gi­ant TPG bought a ma­jor­ity stake in the busi­ness in a deal un­der­stood to be worth £200m in 2014.

The bath­room group is owned by the Walker fam­ily, best known for buy­ing the MFI brand out of ad­min­is­tra­tion in 2010.

Vic­to­ria Plumb, which was founded by Ja­son and his brother Sean in 1999, has grown rapidly as more cus­tomers switch to on­line shop­ping.

Turnover grew from £8m in 2010 to £72m last year.

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