Wolseley says Nicholls won't be coming on as CFO

Wolseley said on Friday that Simon Nicholls - the current chief financial officer of Cobham - will not be taking up his role as CFO later this year, as announced back in January.

The FTSE 100 building materials group did not provide any details as to why.

It said David Keltner, current CFO of US subsidiary Ferguson Enterprises, will be appointed interim group CFO on 1 September and the selection process to appoint a permanent CFO will commence immediately.

The company confirmed Ian Meakins will retire on 31 August 2016, while John Martin will succeed him as CEO on the 1 September as expected.