Kingfisher plc (‘Kingfisher’ or the ‘Company’) today announces that, after nearly seven years in role, Thierry Garnier has resigned as Chief Executive Officer to take up a senior leadership role at another company outside of Kingfisher’s markets.
The Board of Directors has a well-prepared succession plan in place and a search for his successor is underway, led by the Nomination Committee. This will include a comprehensive review of both internal and external candidates to appoint a high-calibre CEO to continue the strong strategic and operational momentum of Kingfisher.
Thierry has a 12-month notice period and will remain fully focused on his current role as CEO and as a member of the Board to ensure a smooth and orderly transition of responsibilities.
Claudia Arney, Chair, said:
‘On behalf of the Board, I would like to thank Thierry for his outstanding leadership and contribution as Kingfisher’s CEO. During his tenure, Thierry has overseen the launch and progress of our 'Powered by Kingfisher' strategy, led the Company through the COVID-19 pandemic and driven many strategic innovations such as the launch of Kingfisher’s marketplaces and the development of our trade business, while also executing at pace on all our priorities. Under his leadership, Kingfisher has become a leading home improvement group underpinned by strong banners across the UK and Europe. Thierry has built an experienced leadership team who are well placed to continue delivering on our strategy and growth opportunities. We wish him the very best for the future.’
Thierry Garnier, CEO, said:
‘It has been a real privilege to serve as Kingfisher's CEO over these years. I am very proud of the progress we have made together and what we continue to build for the future. I remain focused on continuing to execute on our strategic plans with all my energies, so as to leave Kingfisher in the best possible shape for the future, and I look forward to ensuring a successful transition to my successor in due course. I would like to sincerely thank all our dedicated colleagues across the group in our stores and offices, whose hard work and commitment are at the heart of our achievements and will stand Kingfisher in good stead in the future.’
Thierry’s exact departure date will be announced in due course. There are no further details to be disclosed under Listing Rule 6.4.
Note:
Thierry’s remuneration will be treated in accordance with the Company’s Directors' Remuneration Policy and the relevant incentive plan rules. Further details will be disclosed on the Company’s website in due course in compliance with Section 430(2B) of the Companies Act 2006, and details will also be disclosed in the Directors' Remuneration Report within the Company’s Annual Report and Accounts for the relevant year.
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