Victoria Plc (LON:VCP), the international designer, manufacturer and distributor of innovative flooring, has announced the planned appointment of Alec Pratt to the Group board as Chief Financial Officer Designate, who will replace Brian Morgan after three years’ service as Victoria’s Chief Financial Officer in June.
Alec will join VCP as an executive director with Brian remaining in his role as CFO until late-June to ensure a smooth transition. Thereafter Brian has agreed to continue to be available as needed to assist Victoria for up to three months.
Alec joins from Deutsche Bank where he was most recently Co-head of EMEA Financial Sponsor M&A. He is an experienced senior finance leader having spent 16 years in investment banking. Throughout this time, he has advised many listed and private companies on significant M&A transactions, executed equity and debt raises of various types, and built teams and businesses within banks. Previously he spent four years at Numis growing their UK public M&A business, and 11 years at J.P. Morgan where he was an Industrials coverage banker focusing on the built environment. Over his career he has advised numerous UK listed building materials manufacturers and distributors at every stage of the business cycle.
Geoff Wilding, Chairman, commented:
“Brian has made a valuable contribution to Victoria’s long history by helping to integrate the Group’s largest acquisition whilst transforming the finance function across the group and head office. With the negotiated refinancing of VCP’s debt now well advanced, Brian decided to seek a role outside Victoria and the Board would like to thank him for his time at the company.
On behalf of the Board and all at Victoria, we are delighted to welcome Alec as our CFO-Designate. Alec adds to the strong bench of management talent carefully built at Victoria over the last 12 years. He is uniquely qualified to take on this role and his considerable finance and capital markets experience will be extremely beneficial for Victoria’s continued growth and we look forward to updating shareholders on our progress.“
Alec Pratt, CFO-Designate said
“I am pleased to be joining the ambitious team at Victoria plc as they continue to build a diversified international flooring business. Victoria’s leading brands and differentiated service offering provide a compelling customer proposition that has delivered strong returns through-the-cycle. I am excited to be joining the business at this time to drive operating and capital efficiency to provide a strong platform for the company’s next phase of growth.”
Disclosures in accordance with the AIM Rules
Alexander (Alec) Robert Gammack Pratt, aged 39, is, or has been, a director of the following companies during the past five years: BAG and Schulze Limited, and Gammack Land Limited.
Mr Pratt owns no shares in Victoria.
