Leadership Changes Part of Reece Group Integration, Enabling MORSCO’s Long-Term Strategy
Dallas/Fort Worth, TX – (August 28, 2019) – MORSCO today has named Chip Hornsby Executive Chairman of the company and Sasha Nikolic, Chief Executive Officer, effective Sept. 1. The changes were announced as part of the Reece Group’s (ASX: REH) FY2019 earnings results.
Hornsby, who has served as MORSCO’s CEO since 2011, was elevated to the role of Executive Chairman to concentrate on executing MORSCO’s strategic priorities and long-term direction.
“As our transformation has progressed, the MORSCO team is focusing on a strategy to win in the U.S., with the support of the Reece Group,” said Peter Wilson, CEO of The Reece Group. “This leadership change has been a part of our succession planning strategy and will free up Chip’s time to focus less on day-to-day operations and more on MORSCO’s direction and objectives.”
Hornsby has spent more than four decades in the distribution industry. From August 2006 to June 2009, he was CEO of Wolseley PLC, a distributor of plumbing and heating products and supplier of building materials. Hornsby is past chairman of National Association of Wholesalers, past Rector of Christopher Newport University, and past non-executive director at Goodman Manufacturing, Univar and Virginia Company Bank. He currently serves on the Boards of Distribution International and US LBM. Hornsby has a B.A. degree from Virginia Tech and is a graduate of the Advanced Management Program at the Wharton School of Business.
As CEO, Nikolic will take over responsibility for MORSCO’s daily operations. He served with Reece for more than a decade in a number of leadership roles including CFO, Operations Support Leader and lead for the Actrol acquisition and integration - Reece’s successful move into the HVAC market in 2014. While CFO, Nikolic led Reece’s acquisition strategy and due diligence for MORSCO. Following the acquisition in July, 2018, he joined the MORSCO leadership team as Chief Transformation Officer. Nikolic has an MBA from Melbourne Business School and holds a Bachelor of Economics and Commerce.
“Sasha has strong experience leading newly-acquired businesses for the Reece Group and he understands already what MORSCO does well and where we can make additional strides,” said Hornsby. “In a short time, he has become an integral and influential part of the MORSCO leadership team and has worked collaboratively with our field leaders to position us for growth.”
“Chip’s decades of industry experience is invaluable to MORSCO and its future success,” said Nikolic. “He has been outstanding in supporting our transformation efforts at MORSCO thus far and will continue to play a key role in supporting the company’s strategic direction and framing our position in the industry. I look forward to working together to elevate MORSCO and build a world-class experience for our people and our customers.”
Note: The Reece Group FY2019 earnings results are available here.
Contact: Cathy Hein, Director, Communications, 704-965-5431
MORSCO is a leading U.S. distributor of commercial and residential plumbing, waterworks and HVAC supplies. The company was founded in Fort Worth, Texas, and is now one of the fastest growing in its market, led by a team of industry veterans. In 2018, MORSCO was acquired by the Reece Group, Australia’s leading provider of plumbing, HVAC and waterworks products. For additional information regarding MORSCO or any of its brands, please visit www.morsco.com.
About Reece Group
Reece Group is a leading distributor of plumbing, waterworks and HVAC-R products to commercial and residential customers through 800 branches in Australia, New Zealand and the United States. Established in 1920 and listed on the Australian Securities Exchange (ASX: REH), Reece Group has approximately 8,000 employees committed to improving the lives of their customers by striving for greatness every day. For further information on Reece Group and its portfolio of businesses please visit www.reecegroup.com.au.
MORSCO names Chip Hornsby Executive Chairman; Sasha Nikolic CEO