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Kingfisher Incoming CEO Veronique Laury Will Take Helm On December 8

Thu, 20th Nov 2014 11:22

LONDON (Alliance News) - DIY retailer Kingfisher PLC Friday said that its new incoming Group Chief Executive Officer Veronique Laury will take the helm on December 8.

The confirmation follows, after Kingfisher confirmed earlier this year that Laury would be taking over as group CEO before the end of the current financial year, succeeding Ian Cheshire who will also be stepping down on December 8, as opposed to the beginning of January next year.

Laury, who is currently head of the company's Castorama business in France, will be tasked with expanding the company's online sales, integrating recent acquisitions and expanding some of its brands into new markets.

Cheshire told journalists in September when the succession was announced, that after seven years as CEO, and 17 years in the Kingfisher business, he has decided that he didn't want to remain in place through the next five-year strategic plan the company has started.

Laury has been with Kingfisher for 11 years, and her job will be to oversee the planned improvement of the company's IT systems, building its online capabilities, integrating recent French acquisition Mr Bricolage with the rest of the company's operations, and expanding the Screwfix and Brico Dépôt businesses into new markets, like Germany.

Laury is coming from a business that's struggling to grow in the face of continued economic weakness in France.

Kingfisher shares were trading 1.3% lower Thursday morning at 300.70 pence.

By Rowena Harris-Doughty;; @rharrisdoughty

Copyright 2014 Alliance News Limited. All Rights Reserved.

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