Wolseley plc is officially changing its name to Ferguson plc, subject to shareholder approval. Ferguson is the most significant brand in the Wolseley Group of companies and accounts for 84% of the Wolseley Group’s profitability.
The company also announced that CEO Frank Roach will retire on July 31, 2017. Current COO Kevin Murphy will assume the role of CEO effective Aug. 1, 2017. Roach was appointed CEO of Wolseley’s North American Division in January 2006. Murphy joined Ferguson in 1999 through the acquisition of his family’s business, Midwest Pipe and Supply.