21st May 2007 09:31
Wolseley PLC21 May 2007 WOLSELEY plc Board and Board Committee Changes Wolseley, the world's largest specialist distributor of plumbing and heatingproducts to professional contractors and a leading supplier of buildingmaterials announces that Mr Fenton Hord, who is responsible for the Company's USbuilding materials business, will retire from the Board on 31 July 2007. Mr Hordwill be succeeded by Mr Joe Appelmann as CEO of the Company's US buildingmaterials business. Mr Appelmann has been with the business for more than 18years. In addition, Mr Robert Walker will step down from the Board as anon-executive director with effect from 31 October 2007. With effect from 31 October 2007, Mr Nigel Stein will succeed Mr Walker as amember of the Remuneration Committee and Messrs Jim Murray and Nigel Stein willbe appointed to the Nominations Committee in Mr Walker's place. Mr Whybrow willalso join the Remuneration Committee on the same date. With effect from 31October 2007 the Remuneration Committee will comprise of Mr Duff (Chairman), MrStein, Mr Davis and Mr Whybrow and, from the same date, the NominationsCommittee will comprise Mr Whybrow (Chairman), Mr Davis, Mr Duff, Mr Hornsby, MrMurray and Mr Stein. Commenting on these changes Mr John Whybrow, Chairman of Wolseley, said: "I wish to extend the Board's thanks to Fenton Hord for his outstandingcontribution to Wolseley over the last 20 years. Although Fenton joined theGroup Board 7 years ago, he was appointed CEO of our US building materialsbusiness in 1987, growing the business from sales of $113 million to $5.3billion in 2006, achieving a compound annual growth rate of 22%. Robert Walker will be retiring from the Board in his ninth year as anon-executive director. The Board is grateful to Robert for the invaluablecontribution that he has made to Wolseley over the years and we wish both Fentonand Robert well in the future. Nigel Stein, who will become a member of the Remuneration and NominationsCommittee, joined the Board on 1 December 2003 and is currently a member of theAudit Committee. Jim Murray, who will become a member of the NominationsCommittee, joined the Board on 12 April 2002 and is currently Chairman of theAudit Committee." ENQUIRIES: Guy Stainer +44 118 929 8744Head of Investor Relations +44 7739 778187 Notes to Editors Wolseley plc is the world's largest specialist trade distributor of plumbing andheating products to professional contractors and a leading supplier of buildingmaterials in North America, the UK and Continental Europe. Group revenue for theyear ended 31 July 2006 was approximately £14.2 billion and operating profit,before amortisation of acquired intangibles, was £882 million. Wolseley hasaround 78,000 employees operating in 28 countries namely: UK, USA, France,Canada, Ireland, Italy, The Netherlands, Switzerland, Austria, Czech Republic,Hungary, Belgium, Luxembourg, Denmark, Sweden, Finland, Norway, Slovak Republic,Poland, Romania, Croatia, San Marino, Panama, Puerto Rico, Trinidad & Tobago,Mexico, Barbados and Greenland. Wolseley is listed on the London and New YorkStock Exchanges (LSE: WOS, NYSE: WOS) and is in the FTSE 100 index of listedcompanies. -- ENDS -- This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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