Ferguson makes Oakland interim Wolseley boss as Higson quits
Ferguson has appointed Simon Oakland as interim boss of its Wolseley UK arm, replacing Mark Higson who is quitting the business as it prepares for demerger in 2020.
Ferguson Enterprises Inc. (DI)
15,820.00p
16:40 04/06/25
FTSE 100
8,801.29
17:14 04/06/25
FTSE 350
4,825.96
17:04 04/06/25
FTSE All-Share
4,775.89
17:14 04/06/25
Support Services
10,748.48
17:04 04/06/25
Oakland is CEO of Ferguson's Canadian business and the company's head of corporate development. Ferguson said he had been project managing the Wolseley UK demerger since September.
Higson is leaving the FTSE 100 plumbers merchant to take up a job outside the company and will stay on until the end of January to hand over to Oakland. The company said it would look for a permanent replacement for Higson.
Ferguson announced in September its plan to spin off Wolseley UK as a new company, leaving Ferguson focused on North America, after activist investor Nelson Peltz agitated for change. John Martin quit as group CEO and was replaced by US head Kevin Murphy.
Ferguson said Oakland has extensive experience in strategy, finance and operations. Before joining the company in 2012 he worked at private equity firm Alchemy Partners.
The company said: "Preparation for the demerger of Wolseley UK is well underway and the company still expects to complete the transaction in calendar 2020. Ferguson will provide an update on the progress and timing of the transaction in the first quarter of 2020."