Michael Loeve swaps B&Q for Netto

CEO Michael Loeve is to leave the B&Q business after two years to join the Danish based Dansk Supermarket Group.

His time at B&Q

Since 2015, Loeve has been running B&Q in the UK and Ireland for Kingfisher and although his leaving date has not yet been finalised, it's now known that he will be returning to his home country of Denmark and joining Netto on 1st September 2017.

The search for his successor has started and in the meantime, Jean-Paul Constant, B&Q's current Chief Sales & Retail Operations Officer, will assume additional responsibilities alongside Loeve. 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.”

Kingfisher continues with its One Kingfisher transformation plan, consisting of three pillars:-

• Creating a unified, unique and leading offer.
• Driving digital capability.
• Optimising operational efficiency.

For more information on the Kingfisher strategy click here

During Loeve's period in control, the business performed relatively well considering the market and increasing competition from both on-line and a reinvigorated Wickes, not to mention its sister company Screwfix, which continues to grow and take share.

B&Q overall sales decline following store closures

Highlights of his period in charge include the launch of the latest generation Big Box format store in Cribbs Causeway and the subsequent rebranding and revamp of another eight B&Q stores. More recently, B&Q launched a high-street format in Holloway Road, north London.

B&Q 'City Store' Holloway Road - our first impressions 

Michael Loeve to join Netto

25,000 Netto employees can look forward to welcoming home an experienced retailer as their new chief executive. Michael Løve swaps the post as CEO in the largest DIY chain in the UK B&Q, part of the Kingfisher Group, for a top job in Dansk Supermarked Group as he takes up the position as Executive Vice President of Netto International, thus becoming responsible for the format's operations in Denmark, Germany, Poland and Sweden.

Michael Løve is by no means a stranger to retailing. He was head of Coop's five formats in Denmark before moving abroad two years ago. Prior to this he lead the turnaround of SuperBrugsen until 2014. In the UK, he has operated in one of the world's toughest retail markets and in B&Q delivered sales and growth throughout. With a strong understanding of consumer trends and quality in volatile markets, he is particularly well suited for taking over responsibility for the Netto brand, says Dansk Supermarked Group CEO Per Bank.

- 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 fulfill our ambitions for Netto across the countries, says Per Bank.

- In addition, he is a modern leader and a thoroughly decent person, powered by a natural winning instinct and characterized by sound values, all in keeping with how we want Dansk Supermarked Group to be as a company, says Per Bank.

Netto’s focus the coming years will be to refresh the concept in Denmark and increase the pace of the expansion in Sweden and Poland while maintaining a strong regional position in Germany. Michael Løve himself looks forward to accelerating the journey, Denmark’s largest grocery format has embarked upon. The potential across the four countries and the format’s more than 1300 stores is enormous, he believes.

- Netto is the only Danish food retailer that has had the courage to establish itself abroad and succeed in doing so. At the same time, Netto has become the market leader in Denmark. Taking up the position in Netto International provides me with a fantastic opportunity to work with a format where there is ambition to continuously expand, revitalize and develop the brand. That opportunity was worth returning home for, says Michael Løve.

Prior to the appointment at Kingfisher, Michael Løve was part of Coop's executive board in Denmark and before this format director of SuperBrugsen, COO of Copenhagen Airports and Logistics Director at Coop.

When joining Dansk Supermarked Group, Michael Løve will become part of the Group’s Executive Committee and will hold the title Executive Vice President, Netto International. He is expected to join September 1st. 

Source: Insight DIY Team/Kingfisher plc/Dansk Supermarked Group

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