Wolseley plc announced that Ian Meakins, chief executive officer (CEO) expects to retire on 31 August 2016. Ian was appointed CEO in July 2009 and during his tenure he has significantly reshaped the Group into a focused plumbing and heating and building products distribution business operating in attractive markets with leading positions. The board announced that John Martin, who joined Wolseley in 2010 as Chief Financial Officer (CFO), will succeed Ian as CEO.

John has extensive operational and financial management experience running large international businesses. Ian and John will work closely together to ensure an orderly handover of responsibilities. The Board is also announced the appointment of Simon Nicholls as CFO.

Simon is the current CFO of Cobham plc. Before joining Cobham, he was Group Finance Director at Senior plc between 2008 and 2012. Prior to that, Simon spent nine years at Hanson plc in a number of financial roles before he became CFO for Hanson North America in 2003.

He will join Wolseley following an appropriate notice period which is yet to be finalized.