A boardroom dispute has led to the resignations of two directors at renowned Kidderminster-based Victoria Carpets – just five months after their appointments.
Victoria PLC has announced that, with immediate effect, Alexander Anton – who headed up the consortium that took over the business earlier this year – and Geoff Wilding, both non-executive directors, have resigned from the board of directors. The Worcestershire firm has also announced the appointments of David Garman and Roger Hoyle as non-executive directors at the carpet manufacturer.
Three non-executive directors, Sir Bryan Nicholson, Alexander Anton and Geoff Wilding, were appointed, together with Victoria’s chairman, Katherine Innes Ker, at a general meeting held on March 6, after shareholders backed a long term plan for the company.
However, less than six months after the new board was appointed, Victoria’s chairman, Katherine Innes Ker, said change was needed again. “Today’s board changes reflect irreconcilable differences between the non-executive directors and the rest of the board as how best to execute the company’s strategy for the benefit of all shareholders and as to how proceeds arising from implementation of the strategy should be distributed,” she said.
“We have a clear and achievable strategy in place for the company which the board believes will maximise returns for all shareholders and which was supported by all directors, including the non-executive directors.”
In a statement, Victoria added: “Significant differences have, unfortunately, arisen between the non-executive directors and the rest of the board, including the chairman, in relation to the execution of the company’s strategy.”