Kingfisher boss Ian Cheshire has vowed to change the culture of the home improvement giant as he takes up his position as group chief executive this week.
He is confident he can improve the level of staff engagement and build a more hands-on business. “As I have been with Kingfisher for 10 years, there is a tendency to think that nothing will change. So what I need to drive forward is the fact that I have never been group chief executive before and I am poised to transform the business,” he said.
Cheshire – successor to Gerry Murphy, who stepped down last year – will not carry out a formal review of the business, but has outlined three themes to focus on: returns on profit, capital and management. “Kingfisher has a fantastic collection of businesses, but there needs to be a step change in their performance levels,” he said.
He added that he wanted to run the business from the ground up and that there will be management changes over the year, including his former role at B&Q – Kingfisher is on the hunt for a managing director for B&Q and Cheshire has taken the role of chairman.
He said the exact nature of the B&Q MD role has yet to be determined, but promised he will be at every B&Q board meeting. “As long as I am at Kingfisher I will be chairman of B&Q,” he said.
“I need to be involved in all the major operational units at Kingfisher and my experience at B&Q means I can be involved to a level of detail where I can continue to make a difference.”
Cheshire has spent this week talking to staff and investors and will then embark on a tour to refresh his knowledge of Kingfisher’s international operations, particularly in France and China.
“On a practical issue, I haven’t been outside of the UK for two and a half years so I need to get out and see the international stores, staff and customers,” he said.
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