Kingfisher Appoints New CEO

Kingfisher PLC

reported a drop in its half-year net profit and named Véronique Laury, head of Castorama France unit, as new CEO. The European retailer posted a net profit of 278 million pounds ($463.4 million) in the period, down from GBP440 million, in the year-ago period. Excluding one-off costs, Kingfisher's pretax profit came in flat at GBP364 million. Its sales rose to GBP5.77 billion from GBP5.72 billion. Kingfisher shares gained 0.60% to close at $10.01 yesterday.