Hornsby Resigns As Wolseley Chief Executive
Chip Hornsby has resigned as group chief executive of UK-based Wolseley plc, effective immediately. Ian Meakins will succeed
Hornsby effective July 13, 2009.
"Wolseley has been through a lot in the last 18 months," a Wolseley
spokesman said. "There was a consensus on the board that with a portfolio that was appropriate for
the market conditions, now was the right time to make this change." Wolseley recently completed a £1
billion capital-raising in April 2009, and disposed of financially troubled Stock Building Supply through
a joint venture with The Gores Group.
The search for Hornsby's replacement began "three
or four months" ago.
Hornsby joined Wolseley with the acquisition of plumbing distributor Ferguson in 1983.
He began serving as chief executive in 2006. In his ...
Share/Bookmark
Chip Hornsby has resigned as group chief executive of UK-based Wolseley plc, effective immediately. Ian Meakins will succeed
Hornsby effective July 13, 2009.
"Wolseley has been through a lot in the last 18 months," a Wolseley
spokesman said. "There was a consensus on the board that with a portfolio that was appropriate for
the market conditions, now was the right time to make this change." Wolseley recently completed
a £1 billion capital-raising in April 2009, and disposed of financially troubled Stock Building
Supply through a joint venture with The Gores Group.
The search for Hornsby's replacement began
"three or four months" ago.
Hornsby joined Wolseley with the acquisition of plumbing distributor Ferguson
in 1983. He began serving as chief executive in 2006. In his tenure as chief executive, Hornsby led the
drive to reduce costs and improve cash flow in response to increasingly challenging trading conditions
arising from the global financial crisis.
Meakins has served as CEO of Travelex Holdings Ltd,
an international foreign exchange and payments business, and Alliance UniChem plc.
View the Top Distributors in Eight Sectors: Industrial,
PT/Bearing,
Electrical, HVAC/Plumbing/PVF,
Building
Materials/Construction, Electronics,
Plastics, Pharmaceuticals
Join MDM's Independent Distributor Network
Follow MDM on Twitter
Sponsored Links
- Pferd Makes the Difference
- Learn The 10 Pricing Myths That Damage Distributor Profits
- DDI System's Inform Software: Proven Results for Industrial Distributors
- Apex Free Study: Proven Techniques - Growth Through Point-of-Use Vending
- Learn to leverage and manage your pricing to dramatically increase your company's value.
- Increase profits and productivity with NSK's Asset Improvement Program
Think About It: |
Benchmark with Wholesale Distribution Economic Reports
|
The
Answer Book for
|
| Title | Company | Location |
|---|---|---|
| Midwestern Field Sales Territory Manager | DeVilling & Associates | Midwest, US |
| Senior Account Manager and National Account Manager | Precision | Dallas, TX |
| VP Sales & Marketing | Confidential | Southeastern, PA |
| Branch Manager | Graybar Electric Company | Garden City, NY |
| International Sales Manager | Industrial Lubricants Manufacturer | United States |
| National Sales Manager | Steiner Industries | United States |
| View ALL Wholesale Distribution Job Listings | Post Your Job Listing | |
Industry Topics sponsored by
Distribution Trends
|
Economy
|
Management/Strategy
|
Interviews
|
Operations
|
Technology
|
Mergers/Acquisitions
|
Case Studies
|
Sales & Marketing
|
MDM Calendar
Technology Case Study
2011 Economic Forecast
Distribution Customer End Market Trends
Featured Products
Benchmarks & Best Practices: The Answer Book for Growth-Minded CFOs & Controllers
The HR Professional's Strategic Answer Book
2010 Wholesale Distribution Economic Reports: Industrial Distributors - Single-User License
This report includes: Revenue and employment growth trends, the number and size distribution of companies, gross margin, wages, other operating statistics and expert commentary to help you interpret the sector data in light of current macroeconomic trends
Most Popular
Leave a Comment