The chief executive of the UK’s largest tile retailer, Topps Tiles, is set to retire after 18 years with the company, facing increasing pressure from its major shareholder.

Rob Parker, 52, who has held the CEO position since 2019, is expected to remain until a successor is appointed, likely remaining in the role until the end of 2025.

Parker’s resignation follows a recent call for a leadership and strategy reassessment by MS Galleon, the company’s largest shareholder.

Piotr Lipko, managing director at MS Galleon, expressed satisfaction with the board’s decision to begin a CEO succession process, stating, “We welcome the decision and look forward to collaborating on finding an appropriate leader for Topps Tiles.”

In December, MS Galleon, which holds a 29.9 percent stake in Topps, criticized the company’s management for failing to adapt to the evolving retail industry, pointing to its relatively limited online presence.

The firm noted that Topps Tiles’ leadership seemed unable to grasp the seriousness of the current challenges. Earlier in January 2023, Darren Shapland, the then-chairman, survived a bid from MS Galleon aiming to remove him.

Paul Forman, who succeeded Shapland as chairman, commented on Parker’s significant contributions over the years, highlighting the diversification and growth he has overseen as CEO.

Parker initially joined Topps as the chief financial officer in 2007, having previously worked with the discount retailer Savers and Boots.

Reflecting on his time, Parker stated, “The last five years have been incredibly exciting from a business standpoint. Personally, I feel it’s the right moment to seek a different balance in my life, and I plan to step back from a full-time executive career.”

This announcement coincides with Topps Tiles reporting a 4.6 percent rise in like-for-like sales for the 13-week period ending December 28 compared to the previous year, attributing this growth to robust demand from trade customers.

Analyst John Stevenson from Peel Hunt remarked, “Topps has experienced a stronger end to the first quarter than anticipated. The strategic progress indicates clear momentum going forward.”

Following the news, shares of Topps Tiles rose by 0.5p, representing a 1.6 percent increase, to 37.5p during afternoon trading.