A new chief financial officer (CFO) has been appointed at building materials company Wolseley.
John Martin, who has previously worked as finance boss at recruitment firm Hays and been a partner at UK private equity company Alchemy Partners, will join the company at the end of March.
After completing the company's £1 billion fundraising, current CFO Steve Webster will be leaving the organisation after 15 years there.
Mr Webster was also involved in the sale of the company's building supply arm Stock Building Supply for £175 million.
The role of chief executive officer (CEO) for Europe has also been abolished at the company and current chief executive officer Rob Marchbank will also leave the company in March.
"Further management change should not be a major surprise at Wolseley. The arrival of a new chief executive last year always left open the possibility of a change in finance director while greater focus on regional performance meant no role for the Europe chief executive," analyst Andy Brown at Panmure Gordon told the Guardian.
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