Ferguson PLC Mike Powell to step down as Ferguson CFO (8304N)
26 Mayo 2020 - 1:01AM
UK Regulatory
TIDMFERG
RNS Number : 8304N
Ferguson PLC
26 May 2020
26 May 2020
FERGUSON PLC
Mike Powell to step down as Ferguson Chief Financial Officer
Ferguson announces that Mike Powell, Group Chief Financial
Officer ("CFO"), has resigned in order to take up a role as Group
CFO of Mondi plc.
Mike is committed to assisting the Company with an orderly
transition and t he search for his successor is underway. The new
Group CFO role will in future be based at Ferguson's Newport News,
Virginia headquarters in the US. The Company will confirm Mike's
leaving date in due course.
Geoff Drabble, Chairman of Ferguson, said: "On behalf of the
Board, I would like to thank Mike for his significant contribution
to Ferguson over the last three years and we wish him every success
in his new role."
Kevin Murphy, Chief Executive Officer, added: "I would like to
add my thanks to Mike for his hard work, commitment and the strong
results that he has delivered during his time at Ferguson. He has
also played a critical role in the Company's transformation over
the last several years to focus the business on its attractive
North American markets, and we wish him all the very best . We will
continue to work closely with Mike in the months ahead to ensure a
smooth transition to the new CFO. "
Mike Powell said: " It has been an enormous privilege to work at
Ferguson and I am grateful for the opportunity to help lead the
Company's long-term refocus on North America. The business is in
good shape with a strong balance sheet which will serve the Company
well in the coming months and years. Although my departure is still
some way off, I would like to take this opportunity to thank my
colleagues across the Company and wish Ferguson every success for
the future."
For further information please contact
Ferguson plc
Geoff Drabble, Chairman Tel: +44 (0) 1189 273800
Mark Fearon, Director of Corporate Communications
and IR Mobile: +44 (0) 7711 875070
Media Enquiries
Mike Ward, Head of Corporate Communications Mobile: +44 (0) 7894 417060
+44 (0) 20 7404
Nina Coad, David Litterick (Brunswick) Tel: 5959
Notes to editors:
1. Ferguson plc is a value-added distributor of plumbing and
heating products to professional contractors principally operating
in North America and the UK. Revenue for the year ended 31 July
2019 was $21.8 billion and ongoing trading profit was $1.6 billion.
Ferguson plc is listed on the London Stock Exchange (LSE: FERG) and
is in the FTSE 100 index of listed companies. For more information,
please visit www.fergusonplc.com or follow us on Twitter
https://twitter.com/Ferguson_plc .
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END
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