Topps Tiles chief executive Matt Williams steps down

The boss of Topps Tiles has announced plans to quit at the end of the month.

Matt Williams, who has been chief executive of the tile retailer for 12 years, told investors he will step down from the role when the company publishes its next set of results on November 29.

Topps Tiles has seen its shares rebound in recent months as it has moved forward with a major turnaround plan which has seen sales significantly accelerate throughout the year.

Mr Williams will hand over the reins to current chief financial officer Rob Parker at the end of the month but will stay on as an adviser until May 2020.

The departing boss, who has been with the company for 20 years said it was a tough decision to leave but believes it is the right time to “pursue a new challenge”.

“Topps is, and will always remain, a very special company to both me and my family,” he said.

“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.”

In July, Topps posted a 3.8% jump in sales for the three months to June, as it bounced from 1.8% growth in the second quarter and a 1.4% decline in the first quarter of the year.

Non-executive chairman Darren Shapland said of Mr Williams: “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 CFO for the last 12 years, has accepted the role of group CEO.”

Mr Parker said: “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.”

Shares slipped on the announcement, falling 1.6% to 72p in early trading on Tuesday.