Wolseley appoints outsider as CEO

Building materials distributor Wolseley has replaced group chief executive Chip Hornsby with Ian Meakins effect from 13 July. Mr Meakins was previously chief executive of currency exchange company Travelex. Prior to that he held executive positions with high street pharmacist chain Alliance UniChem and drinks maker Diageo.

Commenting on the appointemnt, Wolseley chairman John Whybrow said, "The Board recognises Chip's significant contribution to the Group throughout a long and distinguished career, including nearly three years as chief executive, during which time Wolseley has faced some extremely difficult market conditions, and we wish him well for the future.

"Ian brings a wealth of operational experience in global business, having undertaken a number of leadership roles in brand, retail and wholesale distribution operations on an international scale. His track record on improvement of business performance is impressive and we are delighted to welcome him as CEO."

Mr Meakins said, "Wolseley is a company with a proud history and an exciting long term future and I am delighted to be appointed chief executive. I look forward to getting to know the business and working with employees to help manage through the current tough conditions, while further clarifying the strategy and execution to ensure we deliver value to our shareholders."