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New Kingfisher CEO will not be handcuffed on strategy-chairman

Reuters - UK Focus
Updated

LONDON, Sept 18 (Reuters) - The new chief executive of British home improvement retailer Kingfisher will have a free rein to pursue whatever strategy he wants, its chairman said on Wednesday, including a possible break-up of the group.

Carrefour veteran Thierry Garnier will succeed Véronique Laury as Kingfisher CEO on Sept. 25.

"There's no handcuffs on Thierry's arrival into the company, he'll take his own independent view of all moving parts of the business," Chairman Andy Cosslett told reporters when asked about a possible break-up. But he added: "We actually believe though that the current composition of the group gives us the scale we need." (Reporting by James Davey; editing by Kate Holton)