Five new additions to the board at Travis Perkins-owned Tile Giant have been made over the past six weeks, and managing director Mo Iqbal has stepped down.
Records show that Mr Iqbal stepped down from the board of directors on April 9, and director Paul Hampden Smith left in late March.
Mr Iqbal bought the then Stoke-based Tile Giant back in 2007, having started his retail career at Topps Tiles in 1989 and progressing to retail operations director. He took Tile Giant from a two-store local operation in Stoke to a nationwide chain of 32 stores. In November 2007 he became a millionaire when he sold the now well-established retail operation to Travis Perkins.
According to Creditsafe, the retailer now has eight directors, of which five are the new appointments. These are Robin Proctor, Martin Meech, Carol Kavanagh, Norman Bell, Jean-Jacquen Van Oosten and Anthony Buffin.
Existing directors John Carter, Geoffrey Cooper and Martin Meech are still on the board at Tile Giant, and Andrew Pike is still company secretary.
The company hasn't filed financial results since December 31, 2011, when it saw a 10% increase in turnover, bringing its revenue up to £36.5m. Operating profit, however, nosedived almost 50% from £0.9m in 2010 to £0.48m by the end of 2011.
A representative from the company confirmed that there had been a couple of recent internal moves, and added that "it's very much business as usual" at the retailer.