Wolseley announced on Jan. 18 that CEO Ian Meakins expects to retire on Aug. 31 after seven years in the top role, He will be succeeded by John Martin, currently chief financial officer.

The company's board also announced the appointment of Simon Nicholls as the new CFO. Nicholls is the current CFO of Cobham, a technology company specializing in aerospace, defense and communication.

Meakins was appointed as Wolseley's CEO in July 2009. The company noted that during his tenure, he has significantly reshaped the firm into a focused plumbing and heating and building products distribution business operating in markets with leading positions.

More details here.

Source: Nasdaq.com