Veteran B&Q boss Steve Gilman, who is chief executive of its Asia division and one of the company’s most respected retailers, has made a surprise decision to stand down later this year.

His departure comes at a time of transition for B&Q, which has suffered in its core UK market, and parent Kingfisher, which is on the hunt for a replacement for chief executive Gerry Murphy.

Gilman has worked for B&Q for 28 years and is credited with establishing the business successfully in China, where it has developed a market-leading position.

Although B&Q’s Chinese business suffered last year as a result of regulatory changes, Gilman’s departure is understood to be unrelated. Last month, B&Q sold its joint venture in Taiwan and Gilman decided it was a good opportunity to move on. The Chinese arm has been headed by country president Mariusz Gliwinski since November 2006.

Gilman’s punishing travel schedule played a part in his decision. A colleague calculated that Gilman had flown around the world 110 times in the past 10 years and spent four and a half years in hotels. “I think that’s enough for anyone, don’t you?” he said.

Kingfisher chairman Peter Jackson said: “With his passion for building our international businesses, Steve has left his mark. His knowledge and experience will be missed.”

Gilman said: “I’m looking forward to the next phase of life, which I hope to conduct at a more leisurely pace.”