Wolseley plc recently announced a name change to Ferguson plc, subject to shareholder approval. Ferguson is the most significant brand in the Wolseley Group of companies and accounts for 84% of the Wolseley’s profitability, Ferguson noted.

“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. “The Ferguson name best represents the Group today and will help create greater shareholder interest in the U.S.”

Effective Aug. 1, 2017, the new Ferguson plc will report in U.S. dollars, minimizing currency volatility. The company will remain listed on the London Stock Exchange and a member of the FTSE 100.