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Restructure for Kingfisher Group's Executive team

The international retail business that owns brands such as B&Q and ScrewFix has announced a restructure of its top executive team.

Kingfisher’s aim is to introduce collective responsibility for its performance and to establish internal networks between international teams to work on Group goals.

Some of the changes include; Euan Sutherland, currently CEO at Kingfisher UK & Ireland, becoming Chief Operating Officer of the entire Group, Kevin O’Byrne, currently Group Finance Director, becoming Divisional CEO at B&Q and Philippe Tible, currently CEO at Kingfisher France, becoming Divisional CEO at Castorama & Brico Depot.

The restructuring will also see the departure of Peter Hogsted, currently CEO at Kingfisher International - a position that will no longer exist.

Ian Cheshire, Group CEO at Kingfisher, says: “Crucial to our success over the last four years has been the strength in depth of our whole management team and our new 'One Team' approach that better harnesses that talent. To support the next phase of our development, we intend to build on this momentum and [these] changes will enable us to do that.

“However, I will be very sorry to see Peter go as he is a great retailer and has played a big part in our success to date. I'm very excited by Kingfisher's future potential and I'm looking forward to working with the management team and all our colleagues to deliver it.”

The restructure has resulted in some speculation about Cheshire’s future with the company and Kingfisher’s intentions to find a successor. However according to the FT, Cheshire says: “We have outlined a five-year journey. I’m committing to being around for that.”

Source : Grapevine HR
www.thegrapevinemagazine.com/?id=5305

17 February 2012
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