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Kingfisher chief executive to leave the business

Kingfisher has confirmed that it is to part company with its chief executive Véronique Laury as it announced a fall in profits for the year to 31 January.

HOME & DIY

Kingfisher chief executive to leave the business

Kingfisher has confirmed that it is to part company with its chief executive Véronique Laury as it announced a fall in profits for the year to 31 January.

In a statement the owner of B&Q and Screwfix said it had decided to launch a search process for her successor and that Laury fully supported the decision.

Andy Cosslett, Kingfisher chairman, said: "Vero has been a powerful leader of the business and the driving force behind our plan to turn Kingfisher into a more unified and innovative business. This year will mark a transition in our transformation journey having now reached a critical mass. We are starting to see clear evidence emerging that we can create a powerful and differentiated home improvement experience for our customers which will convert to profitable growth going forward.

“We are now moving into a new phase where we can extract more of the benefits resulting from the hard work that has been put in, and it is therefore timely that we commence a succession process.”

Kingfisher said it would confirm Laury’s departure date in due course. In the meantime, she will continue to carry out her responsibilities.

Laury said: "I have enjoyed leading the ONE Kingfisher team through the transformation to become the leading home improvement company. Leading the transformation has been so exciting but also very challenging. As the transformation approaches its final year, I believe it is right for someone else to lead the next phase of the ONE Kingfisher journey.”

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