Rob Marchbank: stepping down.

Board changes at Wolseley

Published:  25 January, 2010

LEAMINGTON SPA: Building materials merchant Wolseley announced several board changes today.

Steve Webster is stepping down as chief financial officer and as an executive director on 31 March 2010.

He leaves Wolseley following the completion of the £1bn billion capital raising in April 2009 and the disposal of Stock Building Supply which strengthened the Group's financial position. Mr Webster will be replaced by John Martin on 1 April 2010, following an effective handover period.

Mr Martin joins Wolseley from Alchemy Partners where he has been a partner since 2008. Previously, he was chief financial officer at the Travelex Group.

The company is also losing role of chief executive officer of Europe. As a result Rob Marchbank, the holder of this role, is leaving the Group on 1 March 2010.

A new managing director for the UK is being sought. During the transitional period, Ian Meakins will assume overall operational responsibility for the UK.

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