Kingfisher has confirmed that it is to part company with its chief executive Véronique Laury as it announced a fall in profits for the year to 31 January.
In a statement the owner of B&Q and Screwfix said it had decided to launch a search process for her successor and that Laury fully supported the decision.
Andy Cosslett, Kingfisher chairman, said: “Vero has been a powerful leader of the business and the driving force behind our plan to turn Kingfisher into a more unified and innovative business. This year will mark a transition in our transformation journey having now reached a critical mass. We are starting to see clear evidence emerging that we can create a powerful and differentiated home improvement experience for our customers which will convert to profitable growth going forward.
