Kingfisher hunts chief exec as Murphy exits

Kingfisher, the group behind DIY brand B&Q, is on the hunt for a chief executive after it announced Gerry Murphy is to step down early next year after five years at the group. Murphy is credited with focusing the group on its DIY stores.

The group will announce its third-quarter figures at the end of this month and says it expects continued positive performance from its international businesses but a “tough environment” in the UK.

In September, Kingfisher warned the last half of the financial year would be tough in the UK due to interest rate rises and the turmoil in the financial markets.

Last month, B&Q announced a major rebrand worth millions of pounds to help its transition into the home furnishings market. The new campaign has been created by J Walter Thompson and the first TV ad promotes the chain’s “Colours” range of paints, wallpapers and soft furnishings.