John Colley has resigned from role at Kingfisher
Published: 19 August 2019 - Kiran Grewal
It has been reported that former Majestic Wine managing director John Colley has resigned from his role as chief trading officer at Kingfisher after just 20 months in the position, in order to return to Majestic.
According to the Times, Mr Colley will return to Majestic Wine under its new ownership, after its stores were bought for £95 million earlier this month by American investment firm Fortress investment Group. Majestic made underlying earnings of £11.3 million on sales of £267.6 million from its 200 stores in the year to April.
Mr Colley’s move will be the latest in a series of job changes after he left Kingfisher as commercial director to become chief operating officer of Netherlands-based Maxeda DIY group.
This was followed by a two year stint as managing director at Majestic before becoming chief executive of Hobbycraft for eight weeks.
After that, Mr Colley rejoined Kingfisher as group trading director.
The news comes after Kingfisher reported further hits to its profit and an announcement from the group confirmed CEO Véronique Laury to step down from her position and will be replaced by Thierry Garnier.
DIY Week contacted Kingfisher for comment to which it responded: "We have no comment to add at this point in time."
