Videndum (VID): CEO recruitment and cost-saving programme
This situation live
VID Videndum
31 Mar 2026 · CEO search underway; savings programme expanded · +16% until the next step
The recruitment of a new CEO is well underway with the expectation that Stephen Harris will revert to non-executive Chairman in due course.
7 Apr 2026 · CEO search ongoing; Board reverting to normal governance · −45% until the next step
We are actively pursuing the recruitment of a permanent Chief Executive Officer and will update shareholders on progress with this search as soon as we have something able to.
23 Jul 2026 · CEO named; starts 17 August 2026 · +9% until the next step
Videndum plc (the "Company" or the "Group") today announces the appointment of Jan Peter Tewes as Group Chief Executive Officer and as a Director of the Company, with effect from 17 August 2026.
5 Aug 2026 · Post-refinancing; H1 weak; CEO starts 17 August · −8% since
He will take up the position on 17 August, at which time I will step back to my role as Non-Executive Chairman.
CEO recruitment and cost-saving programme
Post-refinancing; H1 weak; CEO starts 17 August
Every step · 4
- 31 Mar 2026 CEO search underway; savings programme expanded – The recruitment of a new CEO is well underway with the expectation that Stephen Harris will revert to non-executive Chairman in due course. ↗
- 7 Apr 2026 CEO search ongoing; Board reverting to normal governance – We are actively pursuing the recruitment of a permanent Chief Executive Officer and will update shareholders on progress with this search as soon as we have... ↗
- 23 Jul 2026 CEO named; starts 17 August 2026 – Videndum plc (the "Company" or the "Group") today announces the appointment of Jan Peter Tewes as Group Chief Executive Officer and as a Director of the... ↗
- 5 Aug 2026 Post-refinancing; H1 weak; CEO starts 17 August – He will take up the position on 17 August, at which time I will step back to my role as Non-Executive Chairman. ↗
What is happening
Videndum: CEO recruitment and cost-saving programme – Post-refinancing; H1 weak; CEO starts 17 August. ['Post-refinancing; H1 weak; CEO starts 17 August']
- In short
- A permanent CEO search followed the £85m recapitalisation completed on 30 March 2026. On 23 July 2026 Jan Peter Tewes was named CEO from 17 August, and FY2026 adjusted EBITDA guidance was cut to £15-18m. H1 results on 5 Aug 2026 confirmed flat like-for-like revenue, EBITDA of £3.0m and net debt of £39.3m.
- Announced
- 31 Mar 2026 · CEO search underway; savings programme expanded
- Latest
- 5 Aug 2026 · Post-refinancing; H1 weak; CEO starts 17 August
- Start date
- 17 August 2026; Stephen Harris returns to Non-Executive Chairman
- Background
- Brand and distribution channel management at Mars and Grohe
- FY2026 guidance
- Adjusted EBITDA £15m-£18m, lowered on 23 July 2026 and reiterated 5 August 2026
- Net debt
- £39.3m including £24.2m leases at 30 June 2026, down £103.0m
- Next milestone
- Half-year results on 5 August 2026
- H1 2026 EBITDA
- £3.0m, up from £2.4m; revenue £110.3m, flat like-for-like
- Cost savings
- c.£3.5m achieved in H1 2026; c.£8m expected for the full year
- Medium-term targets
- Revenue above £350m and mid-teens adjusted EBITDA margin
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