Kingfisher chief Mackay set to stay the course

Kingfisher chairman Sir Francis Mackay intends to stay at Kingfisher for the forseeable future, despite reports that he is looking for his next role.

Mackay has been spoken of speculatively as a potential chairman of Sainsbury's or even WHSmith, but a close friend insisted he is not considering a move at present.

He is keen to stay at Kingfisher with the management team he has helped create over the past two years.

Kingfisher, which posted fourth-quarter sales growth of 13.7 per cent on Wednesday, is thought to be an acquisition target of US giant Home Depot. However, the dollar's weakness has put Home Depot's ambitions on the back burner.