Kingfisher PLC
02 September 2002
2nd September 2002
Not for release, distribution or publication in whole or in part into or in the United States, Canada,
Australia, Ireland, Japan or South Africa
KINGFISHER ESTABLISHES UNIFIED MANAGEMENT STRUCTURE AT CASTORAMA
Kingfisher announced today that it has taken steps to restructure the Board of Castorama Dubois
Investissements SCA ('Castorama'), achieving one of its key objectives of establishing a unified
management structure.
The restructuring was effected at meetings of the Board (Conseil de Gerance) and partners (Assemblee des
Commandites) on Monday, 2nd September 2002. Having received approval from the CMF (Conseil de marches
financiers) on 28th August 2002 to proceed with its offer on Castorama, Kingfisher was able to exercise
its casting vote to put in place a unified management structure.
The five Commandites 'A' have ceased to be Commandites and Gerants with immediate effect. M.
Jean-Hugues Loyez is no longer Chairman of the Board of Castorama and leaves the business. Socodi,
represented by Sir Geoffrey Mulcahy, was appointed Chairman of the Board.
Each of the main businesses, B&Q, Castorama (France) and Brico Depot, will report to Kingfisher's Chief
Executive, Sir Geoffrey Mulcahy.
The Conseil de Gerance, at a further meeting on 2nd September 2002, also approved the draft of the note
d'information to be issued by Castorama in the offer process.
Sir Geoffrey Mulcahy said: 'We have achieved our primary objective of putting in place a unified
management structure which will allow us to work directly with the operating management to exploit
Kingfisher's full potential as Europe's leading home improvement business. I would like to take the
opportunity of thanking Jean-Hugues Loyez and his colleagues for their contribution to the business and
wish them well for the future.'
ends
Company profile
Kingfisher is Europe's leading home improvement retailer, and is ranked number three in the world. The company operates
more than 580 home improvement stores in 11 countries, and enjoys market-leading positions in the UK, France and
Taiwan. Sales for the Home Improvement sector for the year to 2 February 2002 were more than £5.8 billion, with retail
profit in excess of £430 million.
Kingfisher Electricals & Furniture operates more than 820 stores in nine countries. It is Europe's third largest
electricals retailing business by sales and number two by retail profit. As well as holding the leading position in
France and the number two position in the UK, Kingfisher also enjoys leading positions in Belgium and in the Czech and
Slovak Republics. Sales for the year to 2 February 2002 were more than £3.7 billion, with retail profit of £184
million.
Further Enquiries:
Broker and Institutional Enquiries:
Ian Harding, Director of Investor Relations +44 (0) 207 725 4889
Media Enquiries:
Andrew Mills, Director of Corporate Affairs +44 (0) 207 725 5776
Jonathan Miller, Head of Corporate Comms, UK +44 (0) 207 725 5713
France
Graham Fairbank, Head of Corporate Comms +33 (0) 1 43 18 52 26
The Maitland Consultancy: +44 (0) 207 379 5151
Angus Maitland
Duncan Campbell-Smith
Euro RSCG C&O:
Laurent Wormser +33 (0) 1 41 34 40 70
Marie-Noelle Brouaux +33 (0) 1 41 34 34 73
Goldman Sachs International +44 (0) 207 774 1000
Yoel Zaoui
Robin Bishop
BNP Paribas:
Thierry Varene +33 (0) 1 42 98 17 27
This information is provided by RNS
The company news service from the London Stock Exchange
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