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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Kingfisher plc    KGF   GB0033195214

KINGFISHER PLC

(KGF)
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Kingfisher plc : Kingfisher appoints Nick Folland to lead Net Positive initiative

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04/23/2012 | 03:05pm EDT

Kingfisher plc today announces the creation of a new role to lead its recently-launched Net Positive corporate responsibility strategy.

Nick Folland will take up the position of Group Corporate Affairs Director: Net Positive with immediate effect. He was previously Kingfisher's Legal and Corporate Responsibility Director and a Board member of B&Q.

Kingfisher Net Positive is a commitment to create a net positive impact from business operations by putting more back in than we take out. Net Positive commits Kingfisher to a new 10-to 20-year corporate responsibility challenge: to no longer strive for neutrality, but to seek to make a positive contribution to the world's future. Kingfisher Net Positive is a key component of the 'Creating the Leader' business strategy, outlined in March 2012, and will be fully integrated into the way Kingfisher does business.

This new role has been created in order to give a clear sense of leadership and purpose to the Net Positive initiative and to ensure its successful delivery.

Ian Cheshire, Group CEO, Kingfisher plc, said: With our Creating the Leader strategy now in place, the time has come to take a step forward with our sustainability strategy - to challenge the status-quo, to think innovatively and long-term. Zero is no longer enough. We believe that we can make a real Net Positive difference across our business and the communities and environments we work with.

"I'm delighted that Nick has accepted this role. I believe that our increasing focus on Net Positive and corporate reputation means we need someone with Nick's passion and commitment to drive this exciting agenda."

Nick Folland said: "Net Positive is a ground-breaking concept and I am very excited about driving it forward across our businesses. Kingfisher has a strong heritage in corporate responsibility and Net Positive builds on these foundations by taking how we do business to the next level."

Nick will report directly to Group CEO Ian Cheshire, working collaboratively across all of Kingfisher's geographical divisions and Operating Companies to set targets and milestones for the strategy.

Notes to editors

Previously Nick Folland was Legal and Corporate Responsibility Director, Kingfisher plc, B&Q plc. Nick joined Kingfisher in May 2007 and was appointed to the B&Q Board in July 2009. He was previously Company Secretary and Group Legal Director at EMAP, having qualified as a solicitor at Linklaters and Paines.

About Kingfisher Net Positive
We have identified four priorities for Net Positive where we can work with our businesses, suppliers, partners and our customers towards making a net positive impact: Timber, Energy, Innovation & Communities. Ambitious targets will be set to cover each of the four priorities, against which management's performance will be assessed.

Kingfisher will provide more detail on specific targets for Net Positive during the course of the next few months and will publish an update on progress on an annual basis.

Stephen Howard, CEO of Business in the Community, said: I am excited to see Kingfisher showing real thought leadership on sustainability. By focusing on four areas of economic growth, the company has made Net Positive a fundamental part of its corporate strategy. Not only does this demonstrate a long-term commitment, but incentivises the business to help consumers tackle the big challenges that we all face - from deforestation, to what happens when we throw away a product.

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Financials
Sales 2021 11 949 M 15 583 M 15 583 M
Net income 2021 546 M 712 M 712 M
Net Debt 2021 1 976 M 2 578 M 2 578 M
P/E ratio 2021 11,5x
Yield 2021 1,39%
Capitalization 6 297 M 8 232 M 8 212 M
EV / Sales 2021 0,69x
EV / Sales 2022 0,66x
Nbr of Employees 64 605
Free-Float 99,5%
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Number of Analysts 16
Average target price 302,20 GBX
Last Close Price 3,00 GBX
Spread / Highest target 12 421%
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NameTitle
Thierry Garnier Chief Executive Officer & Director
Andrew Cosslett Chairman
Bernard L. Bot Chief Financial Officer & Director
Mark Donald Seligman Senior Independent Non-Executive Director
Rakhi Goss-Custard Independent Non-Executive Director
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