Directorate Change

RNS Number : 2668Z

Kingfisher PLC

17 July 2008

 



17 July 2008

Kingfisher plc appoints new Group Finance Director and new Chief Executive, International

Kingfisher plc, Europe's leading home improvement retailer, today announces two appointments which complete the Group's senior management team.

Group Finance Director

Kevin O'Byrne is appointed Group Finance Director with effect from 1 October 2008 and will join the Kingfisher main Board as an executive director on the same date. Kevin, 43, joins from DSG International, the electrical retailing group, where he has been Group Finance Director since 2004. He succeeds Duncan Tatton-Brown, who has been Group Finance Director for the last four years and who will leave Kingfisher in mid-October to pursue a new career outside the Group. 

Chief Executive, International

Kingfisher also announces today the appointment of Peter Hogsted as CEO, International, responsible for Kingfisher's operations in Poland, Russia, Italy, Turkey and China. Peter, 39, joins from IKEA where he is currently Chief Executive of its UK operations and also Chairman of IKEA in Poland, the Czech Republic, Slovakia, Ireland and Hungary. Peter is also a member of IKEA's international management group. He joins on 1 September 2008.

Peter's appointment follows the recent announcement of Euan Sutherland as CEO, UK and Philippe Tible as CEO, France. Kevin and Peter will join them on Kingfisher's new Retail Board.

Commenting on the appointments, Ian Cheshire, Kingfisher's Group Chief Executive, said: 'I am delighted to announce these appointments, which complete the Retail Board at Kingfisher. Kevin is a first-class finance director who brings with him considerable retail experience, as well as knowledge of the UK and international markets. Peter is an experienced hands-on operational retailer with 13 years experience in the home improvement sector with IKEA, both in the UK and internationally. I believe we now have a very strong top team with a clear focus on delivering a step-change in shareholder value. 

'I would like to personally thank Duncan Tatton-Brown for his significant contribution to Kingfisher over the past seven years, including the past four as Group Finance Director. I am delighted that he is staying on until October to complete a full and orderly handover to Kevin and he will leave with our thanks and best wishes for the next step in his career.'

Kevin O'Byrne said: 'This is a very exciting opportunity. Kingfisher is a leading international retailer with market-leading brands both in the UK and overseas. The business has many opportunities and I'm looking forward to working with Ian and the rest of the Retail Board to help deliver the Group's full potential.'

Peter Hogsted said: 'I am looking forward to a new challenge after 13 very enjoyable years at IKEA. Kingfisher operates in some of the most exciting, fast-growth markets in Europe and Asia where there is a huge demand for home improvement in these new economies.'

Notes to Editors

Kevin O'Byrne has been Group Finance Director of DSG International since 2004. From 2002 he was Retail Finance Director at DSG. From 2000 to 2002 he was Chief Financial Officer of Hemscott, an online provider of financial information. Between 1995 and 2000 he was European Finance Director at the Quaker Oats Company. He is a Chartered Accountant and started his career at Arthur Andersen where he worked from 1987 to 1995. He is a non-executive director of Land Securities plc. 

Peter Hogsted has spent 13 years with IKEA. He has been Chief Executive of IKEA UK since 2003 and in 2005 took on the additional responsibilities of Chairman of the IKEA businesses in Poland, the Czech Republic, Slovakia, Ireland and Hungary. In the UK he is responsible for the 18 IKEA stores, with sales of over £1.1 billion and 11,000 staff. From 2000-2005 he was CEO of IKEA Denmark. He was previously marketing director from 1997-2000 and HR Director from 1995-1997. From 1988-1995 he worked for Co-op, Denmark in various sales, HR and marketing roles. 

The Kingfisher Retail Board is chaired by the Group Chief Executive and includes the Group Finance Director, the three retail divisional heads (the CEOs of the UK, France and International) and key functional heads (eg Group Commercial).

In June, Kingfisher announced seven key steps for driving a step change in shareholder value. These are:

• Driving up B&Q's profit

• Exploiting our UK Trade opportunity

• Expanding our total French business

• Rolling out in Eastern Europe

• Turning around B&Q China

• Growing Group sourcing

• Reducing working capital 

Enquiries:

Sarah Gerrand, Head of Investor Relations	020 7644 1032
The Maitland Consultancy Philip Gawith, Tom Roberts	020 7379 5151

Further copies of this announcement can be downloaded from www.kingfisher.com or by application to: The Company Secretary, Kingfisher plc, 3 Sheldon Square, London, W2 6PX.

Company Profile

Kingfisher plc is Europe's leading home improvement retail group and the third largest in the world, with over 800 stores in nine countries in Europe and Asia. Its main retail brands are B&Q, Castorama, Brico Dépôt and Screwfix. Kingfisher also has a 21% interest in, and strategic alliance with Hornbach, Germany's leading large format DIY retailer. 

 

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