Wolseley plc announced today that Steve Webster is stepping down as CFO on March 31, 2010. He has worked with Wolseley for 15 years.
John Martin will succeed Webster as CFO. Martin joins Wolseley from private equity firm Alchemy Partners. Before that, he was CFO at Travelex Group from 2006-2008. Before that, he was at Hays plc, the specialist recruitment company.
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In a Wall Street Journal article today, Wolseley CEO Ian Meakins said that the change is part of an effort to "get the right team in place" to drive the next phase of the company’s strategy.
Wolseley also announced that it will no longer have a CEO of Europe. Rob Marchbank, current holder of this role, will leave Wolseley on March 1, 2010.
Ian Meakins, Wolseley plc CEO, said: "I am delighted that John Martin will be joining the company. I have worked with him before and we were pleased to have been able to attract someone of his calibre and expertise. I am confident John’s operational skills and experience will make a significant contribution to the future development of Wolseley."
