Scenarios and Things to Come during 2006

Kingfisher May Face More Board Changes

Tuesday, December 20, 2005 3:33:53 AM ET
Dow Jones Newswires



0723 GMT [Dow Jones] Kingfisher's (KGF.LN) appointment of a new chairman is likely to prompt further personnel changes, says Seymour Pierce. Outgoing chairman Francis Mackay "can hardly be regarded as a success," says broker, after some questionable board appointments including appointing a non-retailer as chief executive. "It will be interesting to see what changes (Peter) Jackson makes, but our bet is that within twelve moths the operational personnel will be somewhat different from the present bunch." Rates at underperform. Shares closed Monday at 235p. (MIC)