Italtile has announced that CEO Lance Foxcroft will step down from his role in June, ending a four-year term at the head of the JSE-listed retailer and manufacturer. Foxcroft cited increased family commitments as the reason for his resignation.
Foxcroft will also leave the board, but will not exit the group. Instead, he will return to Ceramic Industries as CEO from July. He previously led the subsidiary in 2014-22 before taking up the group CEO position at Italtile. The company said his redeployment is intended to strengthen Ceramic while the business faces “extremely intense” operating and competitive pressures.
Italtile has appointed COO Brandon Wood as CEO-designate, effective January next year. Wood will assume full responsibility as CEO in July. He has held several senior roles over the past decade, including two terms as CFO and executive positions in supply chain, commercial operations and retail.
Italtile said the leadership changes support its long-standing succession strategy and will help ensure stability and continuity across the group.
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