Ian CheshireChief executive Kingfisher
The cerebral and instantly likeable Ian Cheshire has made an impressive start in his campaign to turn around the fortunes of the troubled DIY group. He has formed a board of big-hitters to take on the battered DIY market. And it seems to be working.
Hiring former Ikea UK boss Peter Høgsted to head up its international arm and the towering Euan Sutherland to breathe life into the UK business, Cheshire has surrounded himself with talented retailers who all seem to be proving their worth. Kingfisher’s retail profit surged 38.5 per cent to £128m in the 13 weeks to May 2, beating expectations as seasonal products and favourable weather lifted sales. In a relentlessly tough market Kingfisher is continuing to grow market share while introducing innovation into the business.
While there is a long way to go for Cheshire’s Kingfisher yet – such as reviving the battered B&Q China – shareholders will be feeling confident that it is in safe hands.