Kingfisher has announced that chief executive Thierry Garnier is set to step down after nearly seven years leading the home improvement group.
Garnier has resigned to take up a senior leadership role at another company outside of Kingfisher’s markets, the retailer said.
The group, which owns B&Q and Screwfix in the UK, said its board had a “well-prepared succession plan” in place, with the nomination committee now leading the search for his replacement.
Kingfisher said the process would include a comprehensive review of both internal and external candidates as it looks to appoint a new chief executive to continue its strategic and operational momentum.
Garnier has a 12-month notice period and will remain in his role as chief executive and as a member of the board to support an orderly transition. His exact departure date will be announced in due course.
Kingfisher chair Claudia Arney 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.”
She added: “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.”
Garnier said it had been a “real privilege” to serve as Kingfisher’s chief executive.
“I am very proud of the progress we have made together and what we continue to build for the future,” he said.
“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.”
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