Kingfisher, the DIY group that owns B&Q, has hired the man who led the expansion of Ikea in Britain as the head of its international division.

Peter Hogsted will join Kingfisher at the start of September after 13 years with the Scandinavian retailer.

Kingfisher also announced that it had poached Kevin O’Byrne, finance director at DSG International in yet another blow to the struggling Currys-to-PC World electricals retailer.

Mr O’Byrne was widely expected to leave DSGi after being passed over for the chief executive job at the end of last year.

Mr Cheshire said: “I believe we now have a very strong top team with a clear focus on delivering a step-change in shareholder value.”

Shares in Kingfisher rose by more than 4 per cent, up 4.10p to 100.2p, on this morning's announcement.

Under Mr Hogsted, Ikea has grown into a £1.1 billion business in the UK and transformed the DIY market.

He took charge of the UK business in 2003 and from 2005 took on the additional responsibilities of chairman of Ikea's operations in Poland, the Czech Republic, Slovakia, Ireland and Hungary.

Today’s appointments complete the transformation of Kingfisher’s executive team under Ian Cheshire, who took over as chief executive in January and has promised private-equity style incentives to management worth millions of pounds if turnaround targets are met.

Mr Cheshire himself stands to earn £16 million over four years if his recovery drive is successful.

Kingfisher has been one of the hardest hit by the fallout from the credit crunch on the high street as customers shelve plans to splash out on DIY products.

Last month, Mr Cheshire warned that he feared the full effects of the slowdown had yet to hit the sector.

Mr O’Byrne will replace Duncan Tatton-Brown at Kingfisher. He has served as finance director for the past four years.

Nicholas Cadbury will replace Mr O’Byrne at DSGi.

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