Kingfisher PLC
5 October 2001
EMBARGOED UNTIL 3.00 pm
Friday 5 October 2001
IMMEDIATE RELEASE
FRANCIS MACKAY TO BE KINGFISHER CHAIRMAN DESIGNATE
Kingfisher plc announces today (5 October) that Francis Mackay, Executive
Chairman of Compass Group PLC, will succeed Sir John Banham as Chairman of
Kingfisher with effect from 7 December 2001. Mr Mackay will join the Board of
Kingfisher, in a non-executive capacity, as Deputy Chairman with effect from 2
November 2001. Sir John Banham, who is 61, has been Chairman of Kingfisher
since February 1996.
Francis Mackay, who is 56, has led the growth of the Compass Group into the
world's largest foodservice company with major businesses in Continental
Europe and North America, as well as the UK. Over the last ten years, Compass
Group has grown substantially, from an initial market capitalisation of £200
million to over £10 billion today. During that time, Francis Mackay has
overseen a number of major acquisitions, including in France where annual
turnover is now in excess of £700 million. Compass Group now has over 270,000
employees in over 90 countries with annual revenues of some £9 billion.
Mr Mackay continues as Executive chairman of Compass Group PLC. He is also
currently a Non Executive Director of Centrica PLC.
Commenting on Mr Mackay's appointment, Kingfisher's Chief Executive, Sir Geoff
Mulcahy said:
'I and the Board are delighted that Francis Mackay will be joining us as
Chairman Designate. His international experience of operations and
acquisitions, together with his track record in leading profitable growth at
Compass Group, will really help us to realise Kingfisher's full potential in
the years ahead, for our shareholders' benefit'.
Francis Mackay added:
'I am looking forward to working with Geoff Mulcahy, and the Board of
Kingfisher, to ensure that the Group's leading position in European retail is
translated into continuing strong sales and profit growth'.
-ends-
Notes to Editors
Kingfisher plc is one of Europe's leading retailers, operating principally in
the International Home Improvement, Electrical and Furniture markets. More
than half of the Group's turnover arises overseas, making it the UK's most
international retailer. Kingfisher employs around 90,000 people in over 1,300
stores across 16 countries and includes some of the best retail brands in
Europe including B&Q, Castorama, Comet, Darty and BUT. Over the past five
years, Kingfisher's home retailing operations have delivered compound annual
growth in sales of 23% with growth in retail profit of 27%.
For further information on Compass Group PLC, please visit
www.compass-group.com
For further information
Andrew Mills
Director of Corporate Affairs 020 7724 7749
www.kingfisher.com
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