Ferguson plc Announces Merger and Leadership Changes

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parent company. The merger, expected to close on August 1, 2024, involves the cancellation of existing shares and the issuance of new shares. The Compensation Committee has amended the Change in Control Policy to clarify its terms under the new structure. Additionally, the company will cancel and replace restricted stock units for non-employee directors effective March 7, 2024.

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About Ferguson Enterprises Inc.

Ferguson Enterprises Inc., a leading distributor of plumbing supplies, is a key player in the industrial and construction sectors. The company's primary purpose is to provide a comprehensive range of products, including fixtures, pipes, valves, and fittings, catering to both commercial and residential markets. Ferguson also offers services like inventory management and logistics solutions, enhancing operational efficiency in the supply chain. With a strong presence in North America, Ferguson serves a diverse clientele that includes contractors, construction companies, and industrial firms. This extensive network allows Ferguson to play a critical role in building and maintaining infrastructure, impacting sectors such as residential construction, commercial buildings, and industrial facilities. Ferguson Enterprises’ significance in the market lies in its ability to supply essential materials for construction and maintenance activities, making it an indispensable resource in the plumbing and HVAC industry. Its broad product range and strong distribution network enable Ferguson to contribute significantly to the development and sustainability of essential services across multiple industries.