Topps Tiles PLC (LON:TPT) chief executive Matt Williams will step down as of 29 November and will be replaced by the current chief financial officer, Rob Parker.
Williams, who has worked at the retailer for 20 years and was appointed boss in 2007, said it was “a really tough decision” and he felt it was “the right time to pursue a new challenge”.
READ: Topps Tiles improves sales as turnaround plan bears fruit
Recent results had been providing encouragement that Williams' turnaround strategy was gaining traction, with like-for-like sales increasing 3.8% in the third quarter ended 29 June after a 1.8% rise in the second quarter and a 1.4% drop in the first quarter.
Chairman Darren Shapland said he was “delighted” that Parker, the company's chief financial officer for the last 12 years, has accepted the role of chief executive.
“Rob is very well known across the business and has established himself as a strong strategic thinker and leader of people across the organisation.”