REG - Kingfisher PLC - Kingfisher announces CFO Succession

KingfisherAnnouncement

17/06/2024 07:15

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RNS Number : 5957S  Kingfisher PLC  17 June 2024

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
(https://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:

 

 Investor Relations                       +44 (0) 20 7644 1082  investorenquiries@kingfisher.com (mailto:investorenquiries@kingfisher.com)
 Media Relations                          +44 (0)7773 129 567   corpcomms@kingfisher.com (mailto:corpcomms@kingfisher.com)
 Company Secretary                        +44 (0)7768 806 248   secretariat@kingfisher.com (mailto:secretariat@kingfisher.com)

 

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

 

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