B&Q owner Kingfisher's chief executive Gerry Murphy will leave the company in February after five years at the helm.

The home improvement chain said there were strong internal candidates to replace Mr Murphy, but said it would also look outside the company.

Ian Cheshire, who heads B&Q in the UK, is set to be among the favourites for the job.

Mr Murphy, who is 51, said it was the right time to go.

He said: "I am proud of the progress we have made over the past five years and it is the right time for me to move on and hand Kingfisher over to a new leader."

He will be entitled to a year's salary of £1.6 million and other entitlements, although the payout depends on whether he begins a new job within the year.

Kingfisher chairman Peter Jackson praised Mr Murphy for building a strong management team and giving Kingfisher clear direction.

Mr Jackson added: "In a time of great change and challenge for the group he has transformed Kingfisher into an integrated and successful international home improvement retailer with strong management and a clear direction.

"Our strategy of building strong positions in fast-growing markets and improving our established businesses is the right one."

A Kingfisher spokesman denied there had been a boardroom bust-up.

He said: "He (Murphy) wouldn't be staying around for another three months if there had been a profound disagreement, it's all fairly orderly."

He said Kingfisher's board was reviewing its plans for the next three to five years and wanted to have "clarity on leadership" over that period.

"Gerry has been in the role coming up for five years and it was considered unlikely, on both sides, that he'd be around for that length of time.

"So the board decided that clarity was needed on this sooner rather than later. There was agreement with Gerry that change would be needed."

Mr Murphy's last job was as chief executive of Carlton Communications.

Kingfisher is Europe's leading home improvement retail group and the third largest in the world, with leading market positions in the UK, France, Poland, Italy, Turkey, China and Taiwan.

Sales for the year to last February were £8.7 billion, 50 per cent of which was generated o utside the UK. Adjusted pretax profit f or the year was £396.6 million.

Kingfisher operates over 760 stores in ten countries in Europe and Asia. Its main retail brands are B&Q, Castorama, Brico Depot and Screwfix Direct.

Mr Murphy's final year in the role has been marked by challenging conditions in its UK market.

Profits across the group rose by 6.2 per cent to £189.6 million during the six months to August 4, but retail profits at B&Q slipped by £4.8 million to £77.8 million as it ploughed £15.8 million into its stores.

Kingfisher said that a trading statement scheduled for the end of November was expected to show continued strong performance from its international businesses but a tough environment in the UK.

Meanwhile Corin Group said chief executive Ian Paling has stepped down for personal reasons, effective immediately.

The Gloucestershire maker of orthopaedic devices named finance director, Simon Hartley the interim chief executive until the appointment of a new chief executive.

The Cirencester-based company said it has continued to make good progress in line with its expectations in the manufacturing and distribution of Cormet to the US company Stryker.