Kingfisher appoints Ian Cheshire as Group Chief Executive
The appointment follows the announcement in November 2007 that Gerry Murphy will stand down from the position after five years as Group Chief Executive.Despite the tough environment facing the DIY sector the company also said it has traded broadly in li ne with its expectations since its last trading update on 29 November. Kingfisher is to announce a fourth quarter sales update, covering the 13 weeks to 2 February 2008, on 21 February. Ian Cheshire said 'I'm excited by the challenge of leading Kingfisher and believe there is significant potential for a real step change in shareholder value. To achieve this, we will move at pace, focusing on the customer, tightening our control of costs and making sure that our cash and capital works more productively. Every part of the Group must deliver value to our shareholders. With the right team consistently focused on these clear priorities I believe we can improve shareholder returns.'
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