Victorian Plumbing Group PLC (AIM:VIC) shares rose 5.6% to 68p after the online retailer confirmed that Stephnie Judge has been started in her role as chief executive.
Judge, who was group managing director, has now joined the board to succeed founder Mark Radcliffe as CEO, who has stepped back to a non‑executive director position.
The company said Radcliffe remain "actively engaged with the group and its strategic direction" and "a substantial and committed shareholder".
Victorian Plumbing said it has also introduced a new long-term incentive scheme aimed at tying executive pay more closely to shareholder returns over the next four years.
The 'value creation plan' will reward senior management only if the company’s share price exceeds set thresholds, with payouts linked directly to value created above £2.25 and £2.50 levels.
The group said the one-off scheme is designed to support its next phase of growth, including expansion in trade and new categories, while also acting as a retention tool for its leadership team.