Kingfisher, the home improvement retailer, is to part company with its chief executive Véronique Laury, it said today. 

The firm, whose main businesses are B&Q and Screwfix in Ireland and the UK and Castorama and Brico Depot in France and elsewhere, said a succession process had started and was supported by Laury. 

A departure date has not yet been decided.

Kingfisher also reported a 13% fall in underlying pretax profit to £693m for the year to January 31, 2019.