Kevin Murphy courtesy of Ferguson
It was a big news day Tuesday for Newport News-based Ferguson, with its United Kingdom parent company announcing a name change, a new CEO and rising sales.
Wolseley plc, the world’s largest distributor of plumbing and heating products to contractors, said it is changing its name to Ferguson plc, subject to shareholder approval. The company said Ferguson is the most significant brand in the Wolseley Group of companies and accounts for 84 percent of the Wolseley’s profits.
“We are proud to have the Wolseley Group adopt the Ferguson name. We have built a very strong brand over the last 64 years and are known for our performance reputation,” Ferguson CEO Frank Roach, said in a statement. “The Ferguson name best represents the group today, and will help create greater shareholder interest in the U.S.”
