Kingfisher COO departs for The Co-Op

Home improvement retail group Kingfisher has announced that its Chief Operating Officer (COO) Euan Sutherland is to leave the company next year to become head of The Co-operative Group after just a couple of months on the board.

Sutherland, who has been working as a non-executive director of The Co-op's food business since 2010, will leave Kingfisher's board in March 2013 to take up the Chief Executive Officer (CEO) position at the diversified retail company.

Kingfisher, which owns the B&Q and Screwfix chains in the UK, said that Sutherland will stay at the company until this time to allow a handover of his responsibilities and duties.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

He joined Kingfisher in 2008 as the CEO of its UK & Ireland division, before being appointed as COO in February 2012, joining the main board in October 2012.

"I would like to thank Euan for his contribution to Kingfisher over the last four and a half years. He has played an important part in the successful development of the group and I wish him well in his new role," said Kingfisher CEO Ian Cheshire.

"A key element of our success in recent years has been bringing together our international teams and harnessing their talent to work on common goals. As a result, Kingfisher today has great strength and depth in its management and I will personally be involved in the transition as Euan's responsibilities are handed over. I look forward to working closely with our management teams as we continue with our 'Creating the Leader' strategy."

BC