Hornsby To Head Wolseley; Stegeman Promoted At Ferguson

Chip Hornsby will succeed Charlie Banks as group chief executive of parent company Wolseley plc, Reading, England, upon Banks' retirement, which will be effective July 31, 2006. Hornsby will take on his new role at Wolseley Aug. 1, 2006.

This succession follows the pattern set four years ago when Hornsby replaced Banks as president/CEO of Ferguson in 2001, upon Banks being named group chief executive of Wolseley.

Hornsby was named to the newly created position of chief executive of Wolseley North America earlier this year, overseeing Ferguson Enterprises, Newport News, Va.; Stock Building Supply, Raleigh, N.C.; and Wolseley Canada, Toronto, Canada, while also remaining president/CEO of Ferguson.

Effective immediately, John Stegeman has been named Ferguson's president/CEO. Earlier this year Stegeman was named chief operating officer of Ferguson to enable Hornsby to address his increased responsibilities.

A successor to Hornsby's most recent position as chief executive of Wolseley North America is expected to be named early in 2006. Similarly, the company is expected to announce a successor to Stegeman's most recent position at Ferguson in the near future. Hornsby has been with Ferguson 27 years, starting as a graduate trainee and moving up into increasingly challenging positions over the years. Stegeman joined Ferguson 20 years ago, progressing through various management positions.

The November issue of SUPPLY HOUSE TIMES will include interviews with Chip Hornsby and John Stegeman regarding these moves.