Victorian Plumbing announces CEO succession and new executive incentive scheme
The Victorian Plumbing bathroom retailer has announced the completion of its leadership succession and the introduction a new incentive plan for its executive leadership team.
Stephnie Judge, previously group managing director, has succeeded founder Mark Radcliffe as chief executive and has now been appointed to the board.
Subscribe to TRBMeanwhile, Radcliffe has assumed the role of non‑executive founder director and will remain actively involved with the group and its strategic direction. He also remains a substantial shareholder in Victorian Plumbing.
Victorian Plumbing said the new ‘value creation plan’ announced today is designed to incentivise the pursuit of strategic growth opportunities over the next four financial years and support the board’s succession planning objectives.
The plan will reward executive leadership team members if the company’s share price exceeds defined hurdles of £2.25 and £2.50, entitling participants to 5% and 10% respectively of value created above each threshold.
In December, Victorian Plumbing reported an increase in revenue and profit for the year to 30 September after order volume grew by 6% to a record 1.1 million orders.
