Wolseley creates head of IR post to woo shareholders

FTSE 100 building giant Wolseley has appointed Merrill Lynch investor relations chief Guy Stainer to help broaden its shareholder base.

Stainer joined last week as head of IR to lead the group’s global communications efforts.

PR was previously overseen by director of corporate comms Jacqueline Sinclair-Brown, who left in December, after just over a year, to spend more time with her family.

Stainer, who was previously V-P of corporate broking at Merrill, said Sinclair-Brown’s departure provided the group with an opportunity to rethink the role, focusing more on IR.

He said initial priorities will be to focus on Wolseley shareholders: ‘Our objective is to broaden the shareholder base – at the moment we have 20 per cent in the US, but aim to grow that, and in Europe we have ten per cent, so we need to broaden that base.’

He added that communications work will also seek to raise the brand’s profile.

‘We want to make the Wolseley brand name more recognisable – we trade under a number of brand names, including Plumb Centre and Builder Centre, but not many people are familiar with Wolseley.’

Stainer reports to Wolseley CEO Charles Banks and heads a small team across the UK and US. Retained agency Brunswick reports to Stainer.

Prior to Merrill Lynch, Stainer worked as head of IR at PowerGen.

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