The new boss of B&Q’s owner could break up the company, its chairman said, as the retailer posted a slump in profits on Wednesday. “Thierry [Garnier] arrives with absolutely no handcuffs, we’ve asked him to come in and use his knowledge and experience to look at everything. He has complete freedom to decide what he brings to the board. I’m ruling nothing in or out at this point,” said Kingfisher chairman Andy Cosslett when was asked if a break-up of the business might be on the cards. Mr Cosslett added: “He is being employed to come and help us understand how we make the most of the business and the assets we have. From now on, how we move forward and get some returns is very important because our investors have been very patient with us.” Outgoing chief executive Veronique Laury, who has been at the helm since 2014, leaves next week, was was not present to answer questions from the media on Wednesday. She had been trying to turn Kingfisher around and better integrate its various businesses across several European countries. She previously promised to improve profits by £500m every year from 2021. Mr Garnier's arrival next week takes the number of female FTSE 100 bosses to just five following Direct Line’s demotion from the blue-chip index in the latest reshuffle under the recently appointed Penny James.
Laurent Garnier is being given a free rein to revamp Kingfisher when he takes over the role of CEO next week , company president Philippe Cosslet said at its first conference call . When asked whether Garnier was free to break - up the company , Cosslet said nothing was being ruled out at this point .