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B&Q CEO Michael Loeve to step down

Published: 19 April 2017 - Jenny Wonnacott

The chief executive officer of Kingfisher retailer B&Q Michael Loeve will be stepping down from his role after two years.

Michael Loeve is leaving his role at B&Q to head up Netto International
Michael Loeve is leaving his role at B&Q to head up Netto International

He will reportedly remain in his position at B&Q for the next few weeks as a replacement is sought. Meanwhile, chief sales and retail operations officer at Kingfisher Jean-Paul Constant will take on some of Mr Loeve's workload and responsibilities in the weeks leading up to his departure.Mr Loeve has been running B&Q since 2015 and has decided to take a step back for “family reasons.” It is thought he will be returning to his home country of Denmark.

Mr Constant said: “We’d like to thank Michael for his energy, enthusiasm and leadership of B&Q, and for the key role he has played in the One Kingfisher transformation plan.”

It has since been revealed that Mr Loeve will take up the position of senior vice president at Netto International, a Danish supermarket with stores in Denmark, Sweden, Germany and Poland. It's a return to food retailing for Mr Loeve, who was previously the head of the Danish Co-op before joining B&Q. 

Per Bank, the chief executive of Netto's owner Dansk Supermarked, said: "Michael’s track record speaks for itself. With the further experience, he has gained in recent years in the UK, I have no doubt that he is the right person to fulfil our ambitions for Netto across the countries.

“In addition, he is a modern leader and a thoroughly decent person characterized by sound values, all in keeping with how we want Dansk Supermarked to be as a company.”

Comments

24 April 2017 17:33:23
Bq bob

He has slashed BQ employees salaries, removed our bonuses that were part of our contracts, removed our Sunday pay, reduced our bank holiday pay, removed the employment levels that we were encouraged to work extra for to enhance our pay. He has overseen changes to our employment that means 3 abscences in a year and you are sacked, seen us forced to work 2 Sundays and 3 Saturdays EVERY month so we get no time with our children, he has overseen our Sunday working hours being moved to a 6pm finish so we no longer get to eat with our families. A level 5 employee has seen their wages cut by over £2000 a year while he and his fellow directors saw their bonuses rise and pay packets into the millions. Will BQ employees miss him, NO! He has left to spend more time with his family after ruining the family life of thousands of low paid staff, he will no doubt leave with a golden handshake worth twenty years of a normal workers salary!


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