Hogsted goes in B&Q reshuffle
Peter Hogsted, former Ikea UK chief executive, has seen his job at B&Q disappear in a management reshuffle.
Hogsted, who was also chairman of Ikea's operations in Poland, the Czech Republic, Slovakia, Ireland and Hungary, has seen his Kingfisher International ceo role abolished as the group switches to a new management structure. He joined in 2008 after 15 years at Ikea.
Under the new structure Euan Sutherland, Kingfisher UK and Ireland ceo will become chief operating officer for the group with Kevin O'Byrne, group finance director becoming B&Q ceo.
'Crucial to our success over the last four years has been the strength in depth of our whole management team and our new "One Team"' approach that better harnesses that talent. To support the next phase of our development, we intend to build on this momentum and today's changes will enable us to do that. However, I will be very sorry to see Peter go as he is a great retailer and has played a big part in our success to date,' says Ian Cheshire, Kingfisher chief executive.
The reorganisation came as B&Q saw like for like sales drop by 2.5% to £837m in the quarter to 28 January. It says sales of indoor products, including furniture, rugs and laminate flooring, were down 5%.