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Wolseley announces board changes

Wolseley has appointed John Martin as its new chief financial officer from 1 April 2010.

Mr Martin will succeed Steve Webster as chief financial officer and executive director who will step down from the role on 31 March.

Mr Webster leaves Wolseley following the completion of the £1 billion capital raising in April 2009 and the disposal of Stock Building Supply which have significantly strengthened the group’s financial position.

Mr Martin joins Wolseley from Alchemy Partners where he has been a partner since 2008.

Wolseley chief executive officer of Europe Rob Marchbank will leave the firm on 1 March, as a greater “focus on business unit performance and accelerate decision making in response to local market conditions” has led to there no longer being a need for the role.

As a result, regional managing directors in the principal geographic regions in Europe - the UK, France and Nordic regions will now report to group CEO Ian Meakins.

Steen Weirsoe, managing director of the Nordic Region and Philippe Gardies, managing director of France will also join the group executive committee with immediate effect.

A recruitment process for a new managing director of the UK is underway. During the transition period Ian Meakins will assume overall operational responsibility for the UK.