Kingfisher CEO ditches exercised options – MoneyWeek

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Thefirmputtheimpactonprofitsofthesoggyweatheratmorethan£30m,asitreporteda15。

5%declineinadjustedpre-taxprofitto£371minthe26weekstoJuly28thfrom£439mtheyearbefore。

Thatwassomewaybelowthe£395mbrokerCharlesStanleyhadbeenexpectingandabitshyofthe£280mCreditSuissehadforecast。

Reportedprofitbeforetaxwasdown16。

9%to£364mfrom£438m。

Exchangeratemovementsdidnothelpmatterseither,withthegrouptakinga£25mhitfromtranslatingtheeuroandPolishzlotybackintosterlingforreportingpurposes。

JustlastweekKingfisherbeefedupitsboardwiththeappointmentofthreenewexecutivedirectors。

KarenWitts,whowasnamedasGroupFinanceDirectorinJuly,willtakeaseatontheboardonOctober1stwhenshejoinsthecompany。

SittingaroundthetableshewillfindnewboysEuanSutherlandandPhilippeTible。

SutherlandisKingfishersGroupChiefExecutive,whileTibleisthefirmsDivisionalChiefExecutiveOfficer,CastoramaandBricoDepotresponsibleforKingfishersbusinessesinFrance,Poland,RussiaandSpain。

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