Kingfisher regional chief to step down in July

Home improvement retailer Kingfisher on Thursday announced Philippe Tible, Chief Executive of its European Castorama & Brico Depot brands, is stepping down from the board at the end of July.He will also leave as a member of the group executive team but will remain with the business until the end of the current financial year to assist in talks to buy Mr Bricolage.Chairman Daniel Bernard said: "We have a number of significant developments currently underway in France, including the roll-out of the Castorama 'Do it Smart' store format, the expansion of the Brico Dépôt business in France and into other European markets and, most recently, the announcement that Kingfisher is in exclusive negotiations to acquire Mr Bricolage. "As we enter a new phase of our development, it is clear that the business needs the next generation of leaders to oversee these plans and so, as a result, Philippe will step down. On behalf of the Kingfisher board I would like to thank him for his very significant contribution over the years and wish him well with his remaining time at Kingfisher and for the future."RD