News - Midlands

Topps Tiles appoints non-exec director

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Leicestershire-based Topps Tiles has appointed Andy King as non-executive director.

King is chief executive of Notcutts Garden Centres and was a non-executive director at the Institute of Chartered Health until December 2011.

This is the second non-executive director appointment by Topps Tiles in the last month, after Claire Tiney was appointed to the board in December.

Chairman Michael Jack said: "Andy brings to our board a strong track record in retailing with a broad base of experience gathered from appointments with a number of well-respected retailers.

"In particular, his marketing background will enable Andy to make a significant contribution towards helping us to further develop our strategy and deliver our goal of extending our market leading position."

The flooring specialist met with a "significant" shareholder rebellion at the company annual general meeting last week, according to advisory consultancy Pensions and Investment Research Consultants (PIRC).

Just less than 20 per cent of shareholders voted against the reappointment of chief executive Matthew Williams. "We had no concerns with his re-election, and advised shareholders to vote in favour," the company said.

Nearly 20 per cent of investors also opposed the company's request for authorisation to hold general meetings on short notice.

The company has recently reported tough trading conditions, with pre-tax profits falling from £12.4m to £7.9m for the 13 weeks to 10 January 2012, as well as a 4.2 per cent decrease in like-for-like revenue in the same period.

Topps trades from 320 stores but expects to open five new stores this year.

 
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