Britain’s biggest tile retailer has announced the appointment of Paul Forman as its next chairman, replacing Darren Shapland. Mr Shapland is nearing the end of his maximum term under corporate governance rules, having been in post for nine years.
The announcement comes a few months after management overcame a bid by Topps’ biggest shareholder to get rid of Mr Shapland and bring in their own two board members. The Leicester-headquartered retailer won overwhelming support at its AGM to defeat the changes proposed by Austria-based investor MS Galleon GmbH (MSG) – which owns almost 30 per cent of shares in the tile retailer.
Topps Tiles had previously said MSG wanted more control in order to supply it with more stock from its own tile maker Cersanit.
