Kingfisher chief to do-it-himself at B&Q

KINGFISHER director Ian Cheshire is taking direct control at B&Q, amid fears that the do-it-yourself chain is losing its touch.

Rob Cissell, who has been chief executive of the company for just 16 months, is being shunted aside to make way for Cheshire, who previously focused on the international stores.

Cissell will take on a global role and try to improve bulk-buying. He replaces George Adams, who will be charged with trialling a builders' merchant chain in the UK. Cissell is unlikely to be best pleased at the switch, so he could depart before long.

Kingfisher (unchanged at 258¾p) said the changes were 'not a kneejerk reaction to the slowdown in sales'.

Analysts have been surprised at how sharply sales at B&Q have fallen. They dropped 7.7% on an underlying basis last quarter, compared to a 1.2% drop in the previous three months and a 1.3% rise before then.

Kingfisher said: 'We don't believe it's a B&Q problem. We think it is a retail one.' Cheshire has been on the board for five years, but this will be the first time he has tackled a hands-on operational role.

The retailer said: 'At a time when trading is tough for all retailers, his strategic background will be seen as a major benefit.' Richard Ratner, at broker Seymour Pierce, said: 'We wonder whether it could be a case of rearranging the deckchairs on the Titanic. We hope not.'