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Ferguson brings in Canadian boss to manage demerging UK arm

Published: 19:20 18 Dec 2019 AEDT

Ferguson PLC -

Ferguson PLC (LON:FERG) has moved the current head of its Canada division to the UK to replace departing Wolseley boss Mark Higson.

The FTSE 100 plumbers’ merchant said Simon Oakland will become interim chief executive of Wolseley when Higson leaves the company on 31 January to pursue another opportunity, until a permanent successor is found.

In addition to his role as Ferguson's Canadian business chief executive and head of corporate development, Oakland has also been project-managing the Wolseley demerger process.

Ferguson is in the process of agreeing a demerger of the lower-margin UK business, where organic revenues have been declining at 4.2% in the past three months against an uncertain backdrop for its repair, maintenance and improvement markets.

The company said the demerger remains “on track” to be completed in 2020, but did not mention any further discussion of its proposed plans to move its stock market listing to the US.

Oakland’s previous roles include serving as Ferguson’s managing director in the French business when he joined in 2012, before which he had a career in private equity as a partner at Alchemy Partners.

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