With sales and share price subdued, it appears Kingfisher has finally lost patience with its CEO Véronique Laury and her turnaround strategy, announcing today that they would be parting company. Laury joined in December 2014 and set about transforming the sleeping giant with a turnaround strategy for the group, dubbed "One Kingfisher" - set to cost £800m over five years in return for £500 in annual savings. Whilst Homebase continues its fightback under the ownership of Hilco, Kingfisher shares have fallen 27% over the last year. All this has spelled bad news for Kingfisher, the effectiveness of the turnaround being masked by underlying weaknesses in the fundamental business performance. While investor patience has practically evaporated, and as one of the last surviving female FTSE 100 CEO's prepares to depart, the real question is: does Kingfisher have a plan B?

Source: Forbes March 20, 2019 15:36 UTC