The boss of Topps Tiles is stepping down this month for a “new challenge”.
Matt Williams has worked at the £216.9 million turnover business – which was founded by his father – for 20 years, including more than a decade as chief executive.
In that time he has rebranded the business and moved into the commercial sector, buying the Parkside business in Leicestershire and taking an 80 per cent stake in Strata Tiles earlier this year.
It opened its first shop in Manchester in 1963 and today has 362 stores and four commercial showrooms.
It remains the country’s biggest tiles retailer for DIY buyers and tradespeople.
More recently Topps Tiles blamed a “challenging economic backdrop” and political uncertainty for flat trading figures.
The national tile retailer, headquartered in Enderby, just outside Leicester, said like-for-like sales for the last quarter were down almost 2 per cent – partly due to ongoing “uncertainty impacting on consumer sentiment”.
For the full year to the end of September like-for-like sales were up around 0.6 per cent.
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The share price was down around 2 per cent this morning at 71.8p.
Mr Williams will step down from the board on November 29, a few days after the company’s full year results come out.
He will be replaced by current chief finance officer Rob Parker.
The company said: “ To ensure a smooth handover Matt will remain as an advisor to the business until the end of May 2020.”
After stints in banking and the property world Mr Williams joined Topps in 1998 when his father Stuart asked him to find new sites for the company’s expansion.
He took up the role of property director, and in 2004 he was promoted to chief operating officer, followed in 2006 with a position on the board.
It was a year later in 2007 when he took up the position of chief executive.
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Mr Williams said: “It has been a really tough decision to leave Topps but I feel now is the right time for me to pursue a new challenge.
“Topps is, and will always remain, a very special company to both me and my family.
“It is a quality business with enormous strength in its specialism which it derives from its people and culture.
“It has been an honour and privilege to lead and work alongside everybody within the Topps family and I wish them all well for the future.”
Rob Parker is a qualified accountant and joined the Topps Tiles board in 2007 as finance director.
During his time there he has taken on increasing responsibilities for areas such as finance, IT, legal, logistics, property and HR.
Prior to joining Topps, he worked for Savers Health & Beauty and Boots for more than 10 years.
Mr Parker said: “I am delighted to be offered this opportunity to lead the organisation.
“Topps is an exceptional business in so many ways and I am very proud of the part I have played in our journey so far.
“I look forward to the future with energy and excitement as we continue to refine our market leading retail offer and to further our expansion into the commercial tile market.”
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Non-executive chairman Darren Shapland said: “Matt has made a tremendous contribution to the business over the last 20 years and in particular over the last 12 years as chief executive.
“During this time he has reshaped the retail business, completed a very successful re-branding and led the investment into the commercial tile market.
“On behalf of the Board I wish him every success for the future.
“I am delighted that Rob Parker, our chief finance officer for the last 12 years, has accepted the role of group chief executive officer.
“Rob is very well known across the business and has established himself as a strong strategic thinker and leader of people across the organisation.”
The company’s nomination committee has started a search for a new CFO.