Charlie Banks announces retirement plans for 2006, and John Stegeman is the new president/CEO of Ferguson.
Just as Chip Hornsby succeeded Charlie Banks as president/CEO of Ferguson in 2001, he has been named to succeed Banks in his role as group chief executive of its parent company, Wolseley plc, Reading, England, upon Banks' retirement July 31, 2006. Hornsby will become Wolseley's group chief executive effective Aug. 1, 2006, while continuing to live and work in the United States.
Earlier this year, Hornsby was named to the newly created position of chief executive of Wolseley North America, overseeing Ferguson, Newport News, Va.; Stock Building Supply, Raleigh, N.C.; and Wolseley Canada, Toronto, Canada, while also remaining president/CEO of Ferguson.