RNS Number : 3155T
27 September 2010
27 September 2010
GARETH DAVIS TO SUCCEED JOHN WHYBROW AS WOLSELEY CHAIRMAN
The Board of Wolseley today announces that Gareth Davis is to succeed John Whybrow as Chairman after the Annual General Meeting on 20 January 2011.
Gareth has been a Non Executive Director of Wolseley since 2003 and is a member of the Audit, Remuneration and Nominations Committees. He was appointed as the Board's Senior Independent Non Executive Director in 2004. He has considerable experience of international business having previously been Chief Executive of Imperial Tobacco Group plc for 14 years. He is also Chairman of William Hill Plc and a Non Executive Director of DS Smith Plc.
John Whybrow said:
"I am delighted that Gareth is to be Wolseley's next Chairman. His considerable experience of both the City and the commercial world has been a real asset since he joined the Board. I am confident Gareth will continue to serve the business very well as he steps into his new role and wish him and the Company every success."
Gareth Davis said:
'I would like to thank John for the strong leadership and commercial drive that he brought to the role of Chairman over the past eight years. Wolseley is an excellent business and while it has been through very difficult market conditions recently, it is now emerging strongly with a clear strategy and direction. I am very much looking forward to working with my other Board colleagues to deliver value for our shareholders."
John Martin, Chief Financial Officer +44 (0) 118 929 8700
Mark Fearon, Director of Communications & Investor Relations +44 (0) 118 929 8741
Brunswick (Media Enquiries) +44 (0) 20 7404 5959
Andrew Fenwick/ Mike Harrison/ Kate Miller
Notes to Editors
Wolseley plc is the world's largest specialist trade distributor of plumbing and heating products to professional contractors and a leading supplier of building materials in North America, the UK and Continental Europe. Group revenue for the year ended 31 July 2010 was £13.2 billion and operating profit, before exceptional items and the amortisation and impairment of acquired intangibles, was £450 million. Wolseley has around 47,000 employees operating in 25 countries and is listed on the London Stock Exchange (LSE: WOS) and is in the FTSE 100 index of listed companies.
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