New CEO named at B&Q
Kingfisher, the parent of U.K.-based big-box DIY retailer B&Q, has named Euan Sutherland to head the company’s U.K. division, which includes the B&Q, Screwfix and Trade Depot banners.
Sutherland succeeds Ian Cheshire, who was promoted to group chief executive on Jan. 25.
Sutherland currently serves as CEO of AS Watson Health and Beauty U.K. He has 15 years experience in retailing and consumer goods, and formerly held marketing roles with Mars Confectionery and Coca Cola.
Under a new management structure plan, Sutherland will take on the day-to-day responsibility for B&Q, with the managing directors of Screwfix and Trade Depot also reporting directly to him, according to the company. His role will have a seat on the newly created Kingfisher Retail Board.
In its preliminary results for the year, Kingfisher reported earnings of about 504 million British pounds (US$1.002 billion), down 1.2 percent from last year. Sales were up 7.9 percent in preliminary year-over-year results, to 9.36 billion British pounds (US$18.6 billion).