We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.

logo
  • Engineers & Specifiers
  • Contractors & Installers
  • Wholesalers & Distributors
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Free Subscription
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • PRODUCTS
    • Bath & Kitchen
    • Fire Protection
    • HVAC
    • Hydronics/Radiant
    • Plumbing
    • PVF
    • Tools
  • PROJECTS
    • Commercial
    • Green Building
    • MRO/Retrofit
    • Remodeling
    • Residential
  • HOW TO
    • Design
    • Fire Protection
    • Legal Matters
    • Management
  • BUSINESS
    • Buying Groups
    • Technology
    • Associations
  • CODES & STANDARDS
    • ANSI
    • ASHRAE
    • ASSE
    • Regulations
    • Green Building
    • IAPMO
    • ICC
    • NFPA
  • RESOURCES
    • Media Kit
    • Advertise
    • Contact Us
    • Classifieds
    • Digital Editions
    • Behind the Wall
    • Webinars
  • BUYER'S GUIDE
  • DIGITAL EDITIONS
Home » Wolseley to rebrand to Ferguson, as Ferguson CEO announces retirement

Wolseley to rebrand to Ferguson, as Ferguson CEO announces retirement

March 28, 2017
No Comments
Frank Roach

Wolseley plc, Ferguson’s parent company, announced the retirement of CEO Frank Roach, along with plans to change its name to Ferguson.

Ferguson CEO Frank Roach will retire on July 31. Current Ferguson COO Kevin Murphy will assume the role of CEO effective Aug. 1. Roach was appointed CEO of Wolseley’s North American Division in January 2006, and in August 2009, assumed additional responsibilities as CEO of Ferguson. Murphy joined Ferguson in 1999 through the acquisition of his family’s business, Midwest Pipe and Supply. He has served in a variety of leadership roles and was appointed as Ferguson’s COO in 2007.

Under Roach’s leadership, Ferguson has grown through strategic acquisitions, organic growth and an unwavering focus on customer service.

Name change

Wolseley also announced a name change to Ferguson plc, subject to shareholder approval. Ferguson is the most significant brand in the Wolseley Group of companies and accounts for 84 percent of the Wolseley’s profitability.

“We are proud to have the Wolseley Group adopt the Ferguson name. We have built a very strong brand over the last 64 years and are known for our performance reputation,” said Ferguson CEO Frank Roach. “The Ferguson name best represents the Group today, and will help create greater shareholder interest in the U.S.”

Effective Aug. 1, the new Ferguson plc will report in U.S. dollars, minimizing currency volatility. The company will remain listed on the London Stock Exchange and a member of the FTSE 100.

First-half results

Ferguson reported sales growth of 9.9 percent, increasing its revenue 5.4 percent on a like-for-like basis, which measures growth of Ferguson’s existing stores or branches open for at least one year. Acquisitions contributed 2.5 percent of additional revenue growth, with remaining growth from new locations and two additional sales days this year. The company’s trading margin was 7.8 percent, and trading profit was 9.1 percent ahead of last year.

Ferguson grew market share in all of its major businesses. Residential and commercial markets, both new construction and renovation, maintenance and improvement, experienced steady growth in the first half. Blended branches (locations serving both residential and commercial customers) continued to generate good growth from a combination of growing markets and market share gains. The B2C e-commerce business grew strongly. Fire and Fabrication, HVAC and Commercial MRO generated good growth with Waterworks growing more modestly in flat markets. Six acquisitions were completed in the first-half of fiscal year 2017.

 

Bath & Kitchen Business Commercial Distributor Industry Community News Management Marketing Plumbing Residential Wholesalers & Distributors
  • Related Articles

    PVF Roundtable Appoints Mike Jordan of Wolseley Industrial; Ferguson Enterprises to Board of Directors

    Ferguson CEO: New acquisitions pending as construction improves

    Wolseley Industrial Group Now Ferguson Industrial

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular

  • Louisville Water Uncovers Ancient Check Valve Dating Back to the 1870s

  • F.W. Webb Customer Throws First Pitch at Red Sox Game

  • Plumbing Museum Leaving Space in Watertown

  • NIBCO Announces Promotion of Dawn Bloch to Vice President, Customer Engagement

Featured Video

Merit video june

Merit Brass Merit Press Technology in Copper & Stainless to Save You Time & Money

Industry Events

  • 25Jun

    2022 ASHRAE Annual Conference

    Toronto,
  • 26Jun

    SWA 94th Annual Convention

  • 09Aug

    PVF Roundtable Q3 Networking Meeting

    Houston , TX
More Events

Subscribe to our newsletters & stay updated

Subscribe & Learn More

  • Tw06 2022 cover
    Learn More
  • Pe06 2022 cover
    Learn More
  • Phc06 2022 cover
    Learn More
  • Es07 2020
    Learn More
Subscribe

More from PHCP Pros

  • Editorial Team
  • Home
  • Contact Us
  • About
  • Advertise

Follow Us

© 2022 All Rights Reserved

Design, CMS, Hosting & Web Development | ePublishing