Kingfisher quits Hornbach supervisory board

Kingfisher withdrew from the supervisory board of Hornbach, its German cooperation partner, immediately following the announcement of the group’s planned expansion of its Screwfix format into Germany. Yesterday Kevin O’Byrne (Kingfisher divisional CEO, B&Q) and David Paramor (Kingfisher finance and planning director) retired from the supervisory body. At the same time John Declerck (group strategy director, Kingfisher) also resigned from his seat on the supervisory board of the Hornbach-Baumarkt-AG subsidiary. The reason given for taking this precautionary step is the desire to avoid any conflicts of interest arising from the expansion strategies of both companies. Following the acquisition of 15 Bricostore DIY outlets in Romania in May 2013, Kingfisher is now for the first time in direct competition with its German cooperation partner since it initiated a strategic alliance with Hornbach in December 2001.