Castorama’s Russia boss criticises own company

Medric Payne, the new managing director of Castorama Russia, has started his new job with criticism directed at his own house. In an interview with the business newspaper Vedomosti he voiced his opinion that the company is progressing too slowly in Russia to enable it to achieve the goals set in 2011 by Kingfisher CEO Ian Cheshire. Only one of the nine store openings scheduled for 2012 actually took place, and there are just 19 branches in the country altogether. Payne lamented the fact that the gap between his company and Leroy Merlin, its main competitor, had increased over the previous year. While this sales format belonging to the French Groupe Adeo was able to grow its sales areas by around one quarter, Castorama managed just 5.5 per cent. Payne mentioned leadership problems as the main reason for this slower rate of progress, but explained that they have now been dealt with. He had taken on the job in order to close the gap between planning and reality as quickly as possible.