Business review

A conversation with the executive team

Having transformed Kingfisher into a stronger business, we are now much better placed to accelerate our development and create a truly world-class leader in home improvement retailing.

Ian Cheshire Peter Hogsted Kevin O'Byrne Ian Cheshire Euan Sutherland Philippe Tible

Q

Delivering Value has worked, so what's the next big idea?

A

Ian Cheshire responds:

Yes it has gone well due to a relentless focus on our self-help initiatives rather than any help from our markets, which have all suffered in the global downturn one way or the other. So it's a big thanks to an incredible effort by our 80,000 colleagues. But before I tell you about our next phase of development let me remind you that we still have a very busy year ahead of us to finish the Delivering Value programme.

Having transformed Kingfisher into a stronger business, we are now much better placed to accelerate our development and create a truly world-class leader in home improvement retailing. We operate in an attractive market which is ripe for faster growth but it will take real leadership to unlock it. We intend to be that leader, accelerating away from the pack by becoming the world's expert at making home improvement easier for our customers. By introducing a core common range across Kingfisher for the first time, we will make better use of our unrivalled scale to develop innovative new products that make home projects easier and more affordable. This will boost growth in our existing markets and enable us to expand faster and more efficiently into new territories at the right time.

Q

Kingfisher has been an international, scale player for years. So what's different now?

A

Ian Cheshire responds:

A good question. We have been big for a while but our 'conglomerate' legacy has seen us operate for too long in country silos, re-inventing the wheel wherever we go and not fully capitalising on our scale and diversity. That said, a lot has changed in recent years and we now have a much more unified and aligned leadership team, and a fast-developing new approach to cross-Group working. Internally we call this the 'One Team' culture, a network of colleagues working across countries and businesses. Our unique asset is our international diversity and expertise, and we are now beginning to really leverage it. Today you will see great products selling under our Group-wide own brand names in multi-lingual packaging – the result of buyers networking as one team. This is just the beginning; I am very excited about how much scope we have.