Barton to replace Meehan as Victorian Plumbing finance chief
Victorian Plumbing Group’s finance chief, Paul Meehan, has told the board he will be stepping down from his role at the end of March in order to pursue other opportunities.
Meehan will be replaced by Daniel Barton, currently the group’s director of finance. Barton will be appointed to the board on 1 April.
Barton joined Victorian Plumbing from DWF Group in August last year. Before that he was company secretary at Wilmington Group.
The online bathroom retailer noted Meehan will remain with the business until 30 June to ensure “an orderly handover of his responsibilities”.
Founder & CEO Mark Radcliffe said Meehan’s “work preparing the finance function and the wider group for its IPO in 2021 has ensured that the business has the necessary systems and structures in place to deliver its growth ambitions. We wish Paul all the best with his future endeavours.
“I am delighted that Dan has agreed to take up the CFO position. He has worked alongside Paul since last year and has already made a significant contribution to the finance function,” Radcliffe continued.
At its IPO in July 2021, Victorian Plumbing’s shares were priced at 262p, giving it an initial valuation of around £850m. This was the biggest ever float on London’s junior AIM market.
Since then the company has fallen 69 per cent, with its shares now trading at 92.20p each.
In its full year results published in December, the company said it was trading ahead of consensus market expectations in both revenue and earnings.