Wolseley chief executive Chip Hornsby has stepped down with immediate effect.
Former Travelex Holdings chief executive Ian Meakins has been appointed as Mr Hornsby’s successor. He will take up the role on 13 July.
Mr Meakins was previously chief executive Officer of Alliance UniChem until its merger with Boots in July 2006.
Wolseley chairman John Whybrow said: “The board recognises Chip’s significant contribution to the group throughout a long and distinguished career, including nearly three years as chief executive, during which time Wolseley has faced some extremely difficult market conditions, and we wish him well for the future.
“Ian brings a wealth of operational experience in global business, having undertaken a number of leadership roles in brand, retail and wholesale distribution operations on an international scale. His track record on improvement of business performance is impressive and we are delighted to welcome him as CEO.”
- Over 31 years in construction materials distribution industry
- Joined Wolseley Group through its acquisition of Ferguson in 1982
- Took over as Wolseley chief executive on 1 August 2006
- Has led Wolseley’s drive to reduce costs and improve cash flow ‘response to increasingly challenging trading conditions arising from the global financial crisis’
- Leaves Wolseley following the completion of the £1 billion capital raising in April 2009 and the recent disposal of Stock Building Supply which have significantly strengthened the group’s financial position