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Victorian Plumbing has announced its founder and CEO Mark Radcliffe has decided to relinquish his role on 31 March 2026, after 25 years with the business.
Managing director Stephnie Judge will succeed Radcliffe as chief executive from 1 April 2026. Judge joined the company in 2013 and became managing director in 2020.
It comes as the retailer reported that revenue for the first 21 weeks of the financial year increased by 9%. This growth was driven by order volumes while margins remained at historic levels.
The company also confirmed the acquisition of Sovereign Transport Services and Sovereign Commercials for £3.4m. The Merseyside-based haulage business provides services to the group.
The acquisition was funded through existing cash reserves and the issuance of 65,000 new ordinary shares. An application has been made for these shares to be admitted to AIM.
Following admission, the company will have 328,769,068 ordinary shares in issue. Victorian Plumbing expects full-year revenue of £329.5m and adjusted profit before tax of £21.9m.
Interim results for the six months ending 31 March 2026 are scheduled for release on 19 May 2026.
Philip Bowcock, chair of Victorian Plumbing Group, said:“I am delighted that Stephnie has agreed to step up as CEO of Victorian Plumbing. Her diligent approach to the delivery of the group’s strategic initiatives stands us in very good stead as we look to the next phase of growth. I have worked closely with Stephnie since becoming chair and I share Mark’s confidence in her excellent leadership credentials. I have no doubt that she is the right person to lead Victorian Plumbing through the next chapter and beyond.
“The board and the group will continue to benefit from Mark’s deep knowledge of the company he has built, the marketing and technology that drives it and the wider retail environment in his founder director role. I look forward to working with him and Stephnie in their new roles.”
Mark Radcliffe, CEO, added: “Victorian Plumbing has been on an amazing journey in the 25 years since I founded it and I feel that now is the right time to hand over the reins. Stephnie is the right person to guide Victorian Plumbing through the next phase of growth and take advantage of the significant opportunities that lie ahead.
“I have every confidence that Victorian Plumbing will continue to go from strength to strength and I look forward to my new founder director role.”
Stephnie Judge, CEO designate, concluded: “I am honoured and excited to take over from Mark as CEO of Victorian Plumbing, a company that he started from his parents’ garden shed over two and a half decades ago. I am confident that the strategy we have put in place together is the right one, and I look forward to working with the executive leadership team and Mark in his new founder director role as we continue to win market share while delivering excellent value and choice for our customers.”
