Sapna Dutta is set to take over as the top lawyer of a FTSE 100 company from Elizabeth Messud in October.
London-based Sapna Dutta, presently serving as the Senior Vice President and general counsel for Reckitt’s global health business, as well as overseeing material litigation and investigations across the group, will be joining the home and DIY multinational, Kingfisher, in October. This appointment marks Kingfisher’s recruitment of a new general counsel from Reckitt, a fellow FTSE 100 company, where Dutta has spent six years.
She will take over from the retired former group general counsel, Elizabeth Messud, at Kingfisher. Kingfisher, the largest home improvement retailer in Europe, possesses prominent brands like B&Q, Screwfix, and Brico Dépôt. With over 80,000 employees across eight countries and revenue surpassing £13 billion in the fiscal year ending in January, Kingfisher stands as a significant player in its industry.
Thierry Garnier, the CEO of Kingfisher, expressed that Dutta’s arrival signifies a valuable addition to their team. He highlighted her wide-ranging strategic legal proficiency, dedicated focus on nurturing talent, and her demonstrated success in collaborating across diverse sectors, countries, and cultural landscapes. Garnier eagerly anticipates welcoming her to Kingfisher and believes she will greatly contribute to the company’s endeavors.
In 2017, Dutta commenced her tenure at Reckitt after spending three years at AstraZeneca. During her time there, she held roles as a senior counsel for M&A and subsequently as the global legal director overseeing the company’s essential respiratory, inflammation, and autoimmune portfolio. Before this, Dutta, who holds qualifications in both the US and UK legal systems, worked as a corporate associate in the New York and London offices of the US-based firm Davis Polk.
At Kingfisher, Dutta will take charge of a consolidated legal department, which underwent a transformation and restructuring initiative led by Messud. Previously, each of the nine retailers owned by Kingfisher had its own legal head reporting to the group’s chief financial officer. Messud, who retired after a 30-year legal career spanning roles at Torys, Clifford Chance, and various senior positions at Nestlé, joined Kingfisher as the group legal director in 2017.
The financial results for Kingfisher’s fiscal year ending on January 31 marked a shift from the pandemic-driven surge experienced by home improvement retailers. The company faced more challenging trading conditions and increased operational expenses, resulting in a nearly 40% decline in pre-tax profits to £611 million, despite a marginal 0.9% decrease in revenue to £13.6 billion.
In March, during the report of its results, the company expressed its confidence in meeting analyst projections. It anticipated a decline in adjusted profit before tax from £758 million in the fiscal year 2022/23 to £633 million in the ongoing year. The company also forecasted a sales growth of 1.9% for the current year, or 0.5% on a like-for-like basis.
In the report, Garnier highlighted the resilience of sales across all markets, emphasizing that both the DIY and DIFM/trade channels had shown strength, with like-for-like sales surpassing pre-pandemic levels by 15.6%. He further noted the company’s commitment to offering value to customers amidst challenging household financial conditions, maintaining a keen eye on pricing strategies while effectively managing cost inflation pressures.
The company revealed intentions to further enhance e-commerce sales, experiencing a remarkable 146% growth over the past three years. Additionally, plans include the opening of up to 85 new Screwfix stores in the UK and France within the ongoing year, alongside up to 80 new Castorama stores in Poland within the next five years.
Dutta expressed her enthusiasm about joining an international retailer that presents robust growth prospects and fosters an adaptable, forward-thinking culture. She highlighted Kingfisher’s mission of making improved homes accessible to everyone, its dedication to a responsible business strategy, and its focus on nurturing its workforce, all of which strongly resonate with her. Dutta expressed delight in becoming a part of the team.
In March 2018, Kingfisher introduced a condensed legal panel consisting of 17 law firms, among them Freshfields Bruckhaus Deringer, Allen & Overy, Hogan Lovells, Eversheds Sutherland, Womble Bond Dickinson, and Foot Anstey. Messud highlighted that this streamlined panel aimed to facilitate stronger and more collaborative partnerships with each of the selected firms.
