Kingfisher has appointed Bhavesh Mistry as its new chief financial officer (CFO), following the announced retirement of current CFO, Bernard Bot.

Mistry brings finance and retail experience to the role, having worked in a number of senior roles across listed businesses.

He is currently CFO of British Land, where he has served in the role since 2021, having worked as deputy CFO as Tesco from 2018 to 2021.

Mistry has also held senior finance positions over more than two decades at a range of companies including Whitbread, Virgin Media and Anhesuer-Busch InBev.

Bot is set to retire in order to further pursue his non-executive career.

His leaving date is yet to be confirmed but it will be no earlier than January 2025. In this time, Bot will continue to support the transition before his retirement, with Mistry’s starting date being announced in due course.

Chief executive officer at Kingfisher, Thierry Garnier, said: "I am very pleased to welcome Mistry to Kingfisher as our new CFO. 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 Mistry, who will be a strong addition to our board and our group executive team.

"I would also like to personally thank Bot for his huge contribution to Kingfisher. Bot 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."

Bot added: "I am proud of the progress we have made with Garnier, 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 Garnier 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 Mistry in due course."

Mistry concluded: "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."

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