B&Q parent company Kingfisher have announced today that ceo Gerry Murphy will stand down on February 2, the end of the current financial year. He has held the post for five years.
Kingfisher chairman Peter Jackson said, “It has been a pleasure to work with Gerry, and on behalf of the Board and our colleagues I want to thank him for his leadership over the last five years.”
Gerry Murphy added, “I am proud of the progress we have made over the past five years and it is the right time for me to move on and hand Kingfisher over to a new leader.”
The chairman said the company would be “running a rigorous selection process”, but added that the board “believes there is strong internal succession for the role”. Ian Cheshire, currently chief executive B&Q UK, is hot favourite for the role.