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Kingfisher Urged to Spin Off Electrical Retail Arm.
Byline: Joanne HART
Nov. 14--Shareholders are calling on Kingfisher to demerge its electrical retail arm, which includes the Comet chain.
Institutions hope the radical measure will be undertaken by incoming chairman Francis Mackay.
He is also expected to assess whether long-serving chief executive Sir Geoff Mulcahy, 59, should stay until the end of his three-year contract, awarded earlier this year.
"The strategy needs to change," said one big institution. "It is hard to know if Mulcahy should stay and oversee it or go. Mackay will have to make that judgment."
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