Share price seesaw prompts Wolseley reshuffle

Builders merchants Wolseley UK have a new managing director as part of a move across the group to cut costs and reduce duplicated roles.

Share price seesaw prompts Wolseley reshuffle

Nigel Sibley has left the company, to be replaced by Rob Marchbank, currently chief executive of Wolseley Europe, who takes full operational responsibility as managing director for Wolseley UK with immediate effect, in addition to his existing duties.

The changes also see the amalgamation of UK and group human resources teams, with the result that UK HR director Bob Mason has also left the company.

The moves follow a month of turmoil for the share price of the FTSE listed company.

On June 27th, Wolseley were the FTSE’s biggest faller, although on Friday July 17, they were its biggest gainer and closed on Monday July 21 at 339p, having fallen as low as 257p on Wednesday July 16 when they issued a grim trading update.

Editor’s blog on the subject, click here

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

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