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One of the tile manufacturer and retailer Italtile’s longstanding top executives, Lance Foxcroft, has announced his early retirement.
Foxcroft, currently head of the manufacturing subsidiary Ceramic Industries, has been with the Italtile group since 2003. He was CEO of Ceramic before stepping into the role of group CEO from June 2021 to June 2026, returning to Ceramic’s top job in July.
According to a Sens release on Monday, Foxcroft, who is in his early 50s, will take early retirement at the end of November 2026 to join his family in Australia permanently. “Lance has advised the board of Ceramic that his family commitments and the challenges of commuting between South Africa and Australia, where his family is based, are the primary reasons for his decision.”
He is praised for having made an “outstanding contribution” to the group over many years. “During his tenure, he played an instrumental role in driving the group’s strategic transformation and delivering meaningful growth for both entities. The board extends its sincere gratitude to Lance for his exceptional dedication, leadership, and the lasting legacy he leaves behind.”
Italtile group CEO Brandon Wood, a former CFO who took over the CEO role in July, will assume oversight responsibility for Ceramic upon Foxcroft’s departure, while a recruitment process has commenced for a head of manufacturing to oversee all the group’s manufacturing operations. That will include grout and adhesive manufacturer Ezee Tiles.
Italtile, which also owns CTM, TopT and the retailer Italtile, reported in March that its overall turnover for the six months to end December was flat at R6 billion, while trading profit fell 14% to R1 billion.
Consumers continue to prioritise discretionary spending over renovations, the company said. It is also facing intense competition from excess capacity and production in neighbouring countries. This is leading to depressed prices, while, at the same time, the group must contend with above-inflation increases in costs such as gas, electricity, and taxes.
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