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