27th May 2016 06:20
LONDON (Alliance News) - Building materials company Wolseley PLC on Friday said Simon Nicholls will not take up the position of chief financial officer later this year as previously announced.
Wolseley had said in January that Nicholls would be joining the company from Cobham PLC, the FTSE 250-listed defence and aerospace group, where he is currently chief financial officer.
However, on Friday, Wolseley said this was not longer the case and said instead David Keltner, who is the chief financial officer of Wolseley's US subsidiary Ferguson Enterprises Inc, will be appointed as interim chief financial officer. Wolseley didn't provide a reason for the change, and Cobham made no immediate announcement early Friday.
The selection process to appoint a permanent chief financial officer will commence immediately, Wolseley said.
Wolseley had also said in January that Chief Executive Officer Ian Meakins would retire on August 31 and be replaced by John Martin. The company said this will take place as expected.
By Hannah Boland; [email protected]; @Hannaheboland
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