Sir Geoff Mulcahy stands down as chief executive of Kingfisher today, 20 years to the month after the legendary Paternoster deal gave birth to the store group.
Mulcahy is credited with the creation of an international business with stores from Tamworth to Taiwan, built upon the£310 million acquisition of Woolworths in 1982.
But in recent years he has been forced to slim down the store group under pressure from the City, and has been accused of indecisiveness.
Friends have paid tribute to his achievements.
Sir Nigel Mobbs, chairman of Charterhouse when it put together the Paternoster deal, said: 'Geoff has been an inspirational leader. One wouldn't describe him as an orthodox retailer, but he is an instinctive retailer.'
Former Charterhouse boss Sir Victor Blank, who made his name from the deal, said: 'He has brilliantly incisive operating and retail skills, coupled with a long-term strategic vision.'
Mulcahy will be replaced by Carlton chief executive Gerry Murphy before February.
No comments yet