B&Q boss to step down in Kingfisher restructuring move

LONDON (ShareCast) - B&Q UK boss Kevin O'Byrne will step down from his post as parent company Kingfisher (LSE: KGF.L - news) undergoes some leadership restructuring. The shake-up, which will be announced next week, is the first step in a move to bring B&Q closer to French DIY chain Castorama and under the control of Vernoique Laury, who has been chief executive of Kingfisher since September.

B&Q has faced challenging conditions amid the UK's housing crisis, with less Britons carrying out home improvements as ownership becomes more difficult.

Laury has pushed for increased joint buying and sourcing across brands internationally, believing that consumers hold a common goal - to improve the comfort and attractiveness of their living spaces. Laury has also shown an interest in shrinking B&Q's 360-strong portfolio to minimize costs.

Analysts were largely not surprised by O'Byrne's anticipated departure, in the wake of his failure to secure the top position in Kingfisher last year.