Kingfisher management reshuffle as B&Q like-for-likes dip

The DIY group’s international chief executive Peter Hogsted will exit the retailer as part of the restructure while Kingfisher UK and Ireland boss Euan Sutherland becomes chief operating officer of the Kingfisher group.

Group finance director Kevin O’Byrne will become divisional chief executive of B&Q in the UK and China as well as the B&Q joint venture in Turkey and its strategic allegiance with Hornbach in Germany.

Kingfisher France chief executive Philippe Tible will take on responsibility for Castorama in Poland and Russia becoming divisional chief executive, Castorama and Brico Dépôt. 

The management changes will take effect when a new group finance director is found, with Hogsted set to leave later this year.  

Kingfisher chief executive Ian Cheshire said: “Crucial to our success over the last four years has been the strength in depth of our whole management team and our ‘One Team’ approach that better harnesses that talent. To support the next phase of development, we intend to build on this momentum and today’s changes will enable us to do that.”

In its fourth quarter to 28 January, B&Q like-for-like sales dropped 2.5% while total sales remained flat. The retailer said it had continued to benefit from the demise of Focus DIY over the quarter.

Like-for-likes across the UK and Ireland slipped 1.9% while total sales rose 1.5% to £968m. Total group sales edged up 2.2% to £2.36bn over the period.

For the full year, UK and Ireland like-for-likes dipped 1.4%. Total sales in the country remained flat at £4.34bn. The retailer expects full year pre-tax profits to be in line with current consensus of analyst expectations of £799m.

Cheshire said: “We have ended another challenging year in robust shape. The global economic outlook is uncertain so we will remain focused on self-help measures to trade the business effectively, whatever the market conditions.”

In the quarter France continued to grow strongly, with like-for-likes up 4.2%. In Kingfisher’s ‘other international’ arm – comprising Poland, Russia, Spain, Turkey and China - like-for-likes were flat.