DSG FD quits to join Kingfisher
The move for O' Byrne signals a return to a FTSE 100
DSG’s financial director has left the company to join the B&Q group
Kingfisher.
Kevin O’ Byrne joins Kingfisher, which is set to implement changes to help
its sales and profits recover, while DSG’s (formerly Dixon) Currys and PC World
flagship trains struggle with their own turnaround plans.
The move for O’ Byrne signals a return to a FTSE 100 company following DSG’s
relegation from the index in December last year, the
Guardian
reported.
O’ Byrne had initially been marked as a strong contended for the chief
executive post but lost out to John Browett, who had been poached from Tesco.
But since Browett stepped in, DSG‘s figures have steadily declined. Shares
traded at 159p 12 months ago but hit a recent low of 36.75p.
Kingfisher’s FD Duncan-Tatton-Brown is on his way out, having informed the
new chief executive Ian Cheshire of his intention to resign several months ago.
Further reading:
Currys to unite web and stores
Pricing pressure drives up notebook sales
DSGi profits plunge 30 per cent