Steve Webster is stepping down as Chief Financial Officer (CFO) and as an Executive Director on 31 March 2010.  He 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.  

He will be replaced by John Martin on 1 April 2010, following an effective handover period.  He joins Wolseley from Alchemy Partners where he has been a partner since 2008.   Previously, he was CFO at Travelex Group between 2006 and 2008.

The company is also scrapping the role of Chief Executive Officer (CEO) of Europe.  Therefore, Rob Marchbank, the holder of this role, is leaving the Group on 1 March 2010.
 
The regional Managing Directors in the principal geographic regions in Europe, namely the UK, France and Nordic regions will now report to Ian Meakins, Group CEO.  Accordingly 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.