Kingfisher announces CFO Succession

17 June 2024

Kingfisher appoints Bhavesh Mistry as its new Chief Financial Officer

Current CFO Bernard Bot to retire

Kingfisher plc, the international home improvement company, today announces that Bhavesh Mistry will join its Board as Chief Financial Officer.

Bhavesh will succeed current CFO Bernard Bot, who will retire to further pursue his non-executive career. Bernard's leaving date is to be confirmed but will be no earlier than January 2025 and he will support the transition before his retirement. An exact start date for Bhavesh will be announced in due course.

Bhavesh brings extensive finance and retail experience gained in senior roles across a range of listed businesses. He is currently CFO of British Land, where he has served in the role since 2021, and was Deputy CFO of Tesco from 2018 to 2021. Before that he held senior finance positions over more than two decades at a range of major companies including Whitbread, Virgin Media and Anheuser-Busch InBev.

Thierry Garnier, Kingfisher CEO, said:

"I am very pleased to welcome Bhavesh to Kingfisher as our new Chief Financial Officer. Bhavesh has a wealth of finance and retail experience, combined with a strategic mindset and an excellent track record of delivery. He is also a people-focused leader who will be a strong fit for our culture. We are fortunate to attract somebody of the calibre of Bhavesh, who will be a strong addition to our Board and our Group Executive team".

"I would also like to personally thank Bernard for his huge contribution to Kingfisher. Bernard has been integral to the transformation of our business under the Powered by Kingfisher strategy and played a key role in leading us through the challenges of the pandemic. He has helped us to become a more agile and productive company, reducing costs and unlocking efficiencies, while investing for growth and delivering attractive shareholder returns. He will leave a very strong legacy to build on."

Bhavesh Mistry said:

"I am very pleased to be joining a dynamic international retailer with a clear strategy and compelling growth opportunities. The pace of change at Kingfisher in recent years has been impressive and I am looking forward to working with its talented teams to build on this momentum and make the most of the many opportunities ahead."

Bernard Bot said:

"I am proud of the progress we have made with Thierry, the Group Executive and all the teams over the past five years in building a stronger Kingfisher. It has been a privilege to serve as CFO and I would like to thank Thierry and the Board for their confidence and support. I am hugely grateful to my team and all the fantastic people I have had the opportunity to work with across the business. There is still a lot to do in the coming months and I look forward to my remaining time at Kingfisher and supporting a smooth transition to Bhavesh in due course."

Bhavesh will join Kingfisher's Board and become a member of Kingfisher's Group Executive. He will be based at Kingfisher's head office in Paddington, London.

About Kingfisher

Kingfisher plc is an international home improvement company with over 2,000 stores, supported by a team of over 78,000 colleagues. We operate in eight countries across Europe under retail banners including Screwfix, B&Q, Castorama, Brico Dépôt, TradePoint and Koçtaş. We offer home improvement products and services to consumers and trade professionals who shop in our stores and via our e-commerce channels www.kingfisher.com

This announcement is made in accordance with Listing Rule 9.6.11.

There are no further matters to be updated in respect of Bhavesh Mistry's appointment under Listing Rule 9.6.13R.

Enquiries:

Notes to Editors

Bhavesh Mistry Career Overview

2021-present British Land

Chief Financial Officer / Board Director UK

2018-2021 Tesco

Deputy Chief Financial Officer UK

2013-2018 Whitbread

Finance Director, Premier Inn & Whitbread Hotels & Restaurants UK

2010-2013 Virgin Media

Director, Group Financial Planning & Analysis UK

2003-2010 Anheuser Busch In-Bev

2008-2010 Finance Director, UK & Ireland UK

2005-2008 Commercial Finance Director, Labatt Breweries Canada

2003-2005 Director, Strategy & Business Development, Labatt Breweries Canada

2000-2003 Marakon Associates

Strategy Consultant UK

1996-1998 KPMG International

Tax Manager Canada