The Leadership Focus Panel

Chip Hornsby

Group Chief Executive

Wolseley plc

2

Wolseley

• Customer Focus

– Associate Driven

3

Wolseley Overview

• Largest distributor of construction materials in North America and Europe

4

Wolseley Overview

• Headquartered in the U K

• 2007 revenues $32 billion

• 50% North America and 50% Europe

• 5,300 + locations

• Traded on the London Stock Exchange

5

Wolseley

• Brands in the U S– Ferguson

– Stock Building Materials

6

Wolseley Culture• Decentralized, but moving toward centralization

by country• Shared Strategy

– Earn, Turn, and Grow

• Alignment– Country– Cluster– Continent– Group– Culture

• Varies greatly by country

7

Wolseley• Leading Change• Wolseley’s evolution

– Through the late 90’s, a conglomerate– Holding company

• Strategic leverage– Best practice– Leverage size and scale

• Supply chain efficiency• Leadership Development• Business Information/Technology

8

Leadership Development• A high degree of emphasis

– Varies by continent

• In the U S, hire over 1,000 incoming college graduates for training program per year

• In Europe just beginning process but roughly 50 college graduates per year

9

Biggest Challenge• Short Term

– Economy– In U S

• Housing starts 2.2 million in 2005• 750,000 projected for 2008

• Long Term– Continue to adjust strategy to changing customer

needs

• Capitalizing on our opportunities while maneuvering various cultures

10

Wolseley

• Customer Focus

– Associate Driven