Victoria Plumb founder steps down as CEO
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.