Ferguson Enterprises has eliminated John Stegeman’s position of president and CEO.
Enterprises has eliminatedJohn Stegeman’s position of president
and CEO "to reduce duplicate Wolseley CEO roles within North America," said Ferguson
spokeswomanDenise Vaughn. The announcement was made last
week byrecently appointed Wolseley Group CEOIan Meakins.
Frank Roach, CEO of Wolseley North America, will take on the
additional duties of president and CEO of Ferguson as of Aug. 31.
Ferguson is a part of UK-based Wolseley plc's North American division. Both
Ferguson and Wolseley North America are based in Newport News, VA, where
Ferguson employs about 1,350 people.
Wolseley North America shrank in April when the majority share ofStock Building Supply was sold. Now, the division includes Ferguson and
Wolseley Canada. These recent changes have occurred as Wolseley plc, the
world's largest supplier of heating and plumbing gear, continues to suffer from
the current housing slump in the United States.
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Source: Daily Press (Newport News, VA)