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B&Q chief to leave as Kingfisher posts 7.5% profit fall

B&Q CEO Kevin O’Byrne is to leave the leave the chain of UK DIY stores in May 2015.

Parent company Kingfisher, which also owns Screwfix, announced that former group finance director O’Byrne will step down from the board and leave the business on 15 May 2015.

O’Byrne will remain in his role as CEO of B&Q UK and Ireland until then in a bid to allow a smooth handover of his responsibilities.

His departure coincides with news that B&Q is to close 60 UK stores putting an estimated 3,000 jobs at risk.

Kingfisher also announced it had been hit by a 7.5% fall in annual profits.

O’Byrne became a board member in 2008 as group finance director and played a key role in transforming the company’s cash position during the financial crisis. Four years later he became divisional CEO of the group’s operations in Turkey, China, Germany and the UK & Ireland. In 2013 he took full responsibility for running B&Q UK & Ireland.

Véronique Laury, Kingfisher’s CEO, said: “I would like to thank Kevin for his contribution to Kingfisher over the last six years. He has played an important part in the development of the company over that time and I wish him well in the future.”

 

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