Kingfisher separates its electrical business

Kesa Electricals is Europe’s third largest electricals retailer, operating 790 stores across seven European countries. The company holds the market leading positions in France through Darty and BUT and is number two by sales in the UK market with Comet. It also has leading positions in Belgium, the Czech Republic and Slovakia. Kesa Electricals plc is chaired by David Newlands. Jean-Noel Labroue, who headed the group under Kingfisher since Autumn 2000, has been appointed Chief Executive Officer and has resigned from the Kingfisher Board. Martin Reavley, former Director of corporate development at Kingfisher and Managing Director of Chartwell Land plc, became Finance Director. Michel Brossard, Andrew Robb and Peter Wilson have been appointed as non-executive directors of Kesa Electricals.

Following the demerger, Kingfisher will be focussed

on developing its activities as a dedicated home improvement retailer. The company operates 600 stores across Europe and Asia and enjoys market leading positions in the UK, France, Poland, Italy, Taiwan and China. The group’s main brands are B & Q, Castorama and Brico Dépôt. Home Improvement sales during the financial year, which ended February 1, 2003, were more than £6.7 billion including £358 million from Canadian business Réno-Dépôt, which Kingfisher agreed to sell in April.