Your Trustee Board

The Trustees are responsible for managing the Pension Scheme and Retirement Trust. They meet regularly to discuss investment issues and other matters, often with their specialist advisers in attendance.

Both the Kingfisher Pension Scheme and the Kingfisher Retirement Trust are managed by Kingfisher Pension Trustee Limited, a company established specially to act as Trustee. As the Trustee is a company, there have to be directors; the directors of this trustee company form the Trustee Board and are generally referred to as “Trustees”.

As you may recall from the consultation exercise carried out last year, Kingfisher proposed that new arrangements should be put in place for the selection of trustees. Following acceptance of these proposals, the Trustee Board was re-organised. Later, after Comet members ceased to actively participate in the Scheme and Trust, there were further changes to the Trustee Board.

As a result of these changes, Roger Jones (Chairman), Liz Wright, John Martin, Ian Edwards and Brian Venters resigned (at various dates) from the Trustee Board, and Helen Jones, Angela Taylor, Charles Baker and Roger Blundell were appointed.

What do the Trustees do?
The Trustees are responsible for managing the Pension Scheme and Retirement Trust. They meet regularly to discuss investment issues and other matters, often with their specialist advisers in attendance.
The Trustee Board oversees both the Scheme and the Trust through committees, which focus on specific aspects of day-to-day operations. The four committees, Accounts & Audit, Benefits, Investment and Sealing, report separately to the Trustee Board at each meeting.

Kingfisher appoints all of the Trustees. Four are drawn from senior management, three from the general membership, one is an independent pensions expert and finally, one of the Trustees is drawn from the pensioner membership.

Although most of the Trustees are experienced in business and financial matters, they nevertheless draw on expert assistance from a range of advisers – for example, the Scheme Actuary, investment consultants and fund managers and specialist pensions lawyers. In addition, all Trustees undertake specific training about their role and duties as trustees both when they become a trustee and throughout their period of office.

Senior Management Trustees:

Tony Stanworth, who is Chairman of the Trustee Board and the Benefits Committee and also a member of the Sealing Committee;

Terry Hartwell, who is a member of the Investment committee;

Helen Jones, who is chairman of the Sealing Committee and a member of the Accounts and Audit committee; and

Roger Blundell, who is a member of the Investment Committee and the Accounts and Audit Committee.

Membership Trustees:

Helen Chandler, who is a member of the Benefits Committee and the Accounts and Audit Committee;

Angela Taylor, who is a member of the Accounts and Audit Committee;

Charles Baker, who is a member of the Investment Committee.

Pensioner Trustee:

Val Struthers, who is a member of the Investment Committee, Benefits Committee and the Sealing Committee.

Independent Trustee:

Charles Woodward, who is the chairman of both the Investment Committee and the Accounts and Audit Committee.

Our Trustees:

	TONY STANWORTH Company: Kingfisher Committees: Benefits (Chairman) Sealing Based: London Appointed: 30 March 1992
	HELEN CHANDLER Company: B&Q Committees: Accounts & Audit Benefits Based: Loughborough Appointed: 4 March 1988
	TERRY HARTWELL Company: Kingfisher/B&Q Committees: Investment Based: London Appointed: 6 November 1998
	HELEN JONES Company: Kingfisher Committees: Sealing (Chairman) Accounts & Audit Based: London Appointed: 1 September 2003
	VAL STRUTHERS Company: Pensioner Committees: Investment, Sealing & Benefits Based: Southampton Appointed: 13 March 1997
	ANGELA TAYLOR Company: B&Q Committees: Accounts & Audit Based: Chandlers Ford Appointed: 1 January 2004
	CHARLES BAKER Company: B&Q Committees: Investment Based: Middlesex Appointed: 1 April 2004
	CHARLES WOODWARD Company: Independent Committees: Accounts & Audit (Chairman) Investment (Chairman) Based: Dorset Appointed: 30 May 1992
	ROGER BLUNDELL Company: Kingfisher Committees: Accounts & Audit Investment Based: London Appointed: 1 April 2004
	COLIN HATELY Secretary to the Trustees