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Kingfisher in search of new boss

Kingfisher in search of new boss

The transformation plan at Kingfisher (KGF) is entering its fourth year, but its instigator will soon be out the door. The home improvement retailer announced that it is on the hunt for a new chief executive, but that current head Véronique Laury would stay on until a replacement is found. Chief financial officer Steve Willett is also set to leave. The ONE Kingfisher transformation plan’s aim was to unify its product range and procurement in hopes of improving sales and profits, but critics have said it’s had the opposite effect. Indeed, like-for-like sales during the year to January 2019 fell 1.6 per cent to £11.7bn, while reported profits halved.

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