Kingfisher poaches DSG's O'Byrne as finance chief

LONDON (Reuters) - Home improvements retailer Kingfisher (KGF.L) has poached the finance director of electrical goods group DSG (DSGI.L) and a senior executive from furniture retailer IKEA to complete its senior management team.

Kingfisher, Europe's biggest do-it-yourself chain, said on Thursday that Kevin O'Byrne, currently finance director at Currys and PC World owner DSG, would join on October 1.

He succeeds Duncan Tatton-Brown who is leaving to pursue a new career.

Kingfisher, which runs B&Q stores and Castorama in France, also named Peter Hogsted, chief executive of IKEA's UK operations, as head of Kingfisher's international operations, covering Poland, Russia, Italy, Turkey and China.

Analysts have been keen for new Kingfisher Chief Executive Ian Cheshire to complete his management team and in particular name a head of international operation to reshape its business in China, where some loss-making stores are being closed.

Cheshire announced a seven-point plan in June aimed at boosting Kingfisher's performance in increasingly tough trading conditions. The group is due to publish a second-quarter trading update next Thursday.

Kaupthing analysts said the departure of O'Byrne was another blow to DSG, which is reeling after a series of profit warnings and also implementing a recovery plan under a new chief executive.

DSG said Nicholas Cadbury, the finance director of its international electricals operations, would be promoted to replace O'Byrne.

At 8:15 a.m., Kingfisher shares were up 6 percent at 101.9 pence in a surging market. DSG was up 6 percent at 40 pence.

(Reporting by Mark Potter; Editing by Quentin Bryar)