Appointment of interim CEO at Wolseley UK

RNS Number : 2384X

Ferguson PLC

18 December 2019

 

18 December 2019

Ferguson plc

Appointment of interim CEO at Wolseley UK

Ferguson ("Ferguson" or the "Company") today announces the appointment of Simon Oakland as interim Chief Executive Officer ("CEO") of Wolseley UK. Simon replaces Mark Higson, who is stepping down to pursue an opportunity outside of the Company. Mark will leave the Company on 31 January 2020 to facilitate a handover and Ferguson has commenced a search for his permanent successor. The Board thanks him for his service in restructuring the business and wishes him well for the future.

Simon brings extensive experience in strategy, finance and operations to the role. He is currently CEO of Ferguson's Canadian business and Head of Corporate Development. Since September 2019 Simon has also been project managing the Wolseley UK demerger process. He joined Ferguson as Managing Director of the French business before moving on to the role of Group Head of Corporate Development where he is responsible for M&A activity and corporate strategy. Prior to joining Ferguson in 2012, Simon gained valuable strategic and Board experience across a variety of sectors spanning Europe, North America and the Far East as part of a successful career in private equity, most recently as a Partner at Alchemy Partners.

Preparation for the demerger of Wolseley UK is well underway and the Company still expects to complete the transaction in calendar 2020. Ferguson will provide an update on the progress and timing of the transaction in the first quarter of 2020.

For further information please contact:

Kevin Murphy, Group Chief Executive	Tel:	[phone]
Mike Powell, Group CFO	Tel:	[phone]

Media enquiries

Mike Ward, Head of Corporate Communications	Mobile:	[phone]
Nina Coad (Brunswick)	Tel:	[phone]

Notes to editors

Ferguson plc is the world's largest specialist trade distributor of plumbing and heating products to professional contractors principally operating in North America. Ongoing revenue for the year ended 31 July 2019 was $21.8 billion and ongoing trading profit was $1.6 billion. Ferguson plc is listed on the London Stock Exchange (LSE: FERG) and is in the FTSE 100 index of listed companies. For more information, please visit www.fergusonplc.com or follow us on Twitter https://twitter.com/Ferguson_plc.

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