KINGFISHER
PLC
DIRECTORATE
CHANGES
April 15, 2024
Kingfisher plc ('Kingfisher' or the
'Company') today announces that, after seven years as Chair of the
Board, Andrew Cosslett has decided not to stand for re-election and
will therefore step down from the Board of Directors at the
conclusion of the Company's AGM on 20 June, 2024. Andrew will
be succeeded by Claudia Arney, who has served as an Independent
Non-Executive Director of Kingfisher since November 2018 and
currently also chairs the Board's Remuneration Committee. Her
appointment will take effect at the same time.
Catherine Bradley CBE, Senior Independent
Director, said: "On behalf of the Board, I would like to
thank Andy for his outstanding leadership and extensive
contributions. He has overseen an important period of change for
the Company, including the launch of the 'Powered by Kingfisher'
strategy, laying the foundation for the Company's future
success. We wish him the very best
for the future.
I
would also like to congratulate Claudia on her appointment as Chair
of the Board. After careful consideration and a thorough process,
the Board is confident that Claudia is an excellent choice. During
her time as a Non-Executive Director, Claudia has demonstrated that
she has a breadth of knowledge and experience which, together with
her leadership and judgment, will be crucial as we drive our
strategy forwards."
Andrew Cosslett said:
"It has been a privilege to serve
as Kingfisher's Chair over the last seven years. During this time
we have changed and strengthened our leadership team, put in place
a more effective business strategy, managed the pandemic and worked
hard to further the Company's reputation as a champion for
responsible business. I am proud to have been able to play my part
and am delighted to now pass the baton onto Claudia whose skills
and judgement will be key in ensuring the good progress continues.
I leave the company with great confidence in its
future."
Claudia Arney said:
"Kingfisher is a fantastic
business, which maintains a sharp focus on striving to better serve
its customers while delivering long-term value for all its
stakeholders. I look forward to continuing to support our great
management team in our mission of making home improvement
accessible to everyone. Since joining the Board in 2018, I have
learned a great deal about the complexities and nuance of our
business and retail banners, and about our 80,000 passionate and
committed colleagues in many countries. It is an honour to take on
the role."
On appointment, Claudia will step
down as Chair of the Remuneration Committee and will be succeeded
by Rakhi Goss-Custard from the conclusion of the 2024 AGM.
Rakhi has served as a Non-Executive Director of Kingfisher since
February 2016, including as a member of the Remuneration Committee
since March 2018, and has extensive knowledge of Kingfisher's
business. She currently also chairs the Remuneration
Committee of Trainline plc, and has previously served on the
Remuneration Committee of Rightmove plc. The Board has agreed
that in view of Rakhi's experience, she is very well positioned to
take on the role, and to ensure effective continuity. Recognising
Rakhi's existing length of service on the Board, a succession
process is also ongoing to identify a new Remuneration Committee
Chair to take on the role over the longer-term.
This announcement is made in
accordance with Listing Rule 9.6.11.
There are no further matters to be
updated in respect of the directorate changes under Listing Rule
9.6.13R.
Enquiries:
About Claudia Arney:
Claudia joined the Board as a
Non-Executive Director in November 2018 and is currently chair of
the Remuneration Committee.
Claudia brings a wealth of
experience of business transformation and building digital
capabilities to the Board having previously held non-executive
roles, including interim chair of the Premier League, senior
independent director of Telecity Group plc, chair of the
remuneration committee at Halfords plc, non-executive director at
Ocado Group plc, and governance committee chair at Aviva plc.
Claudia began her career at McKinsey & Company, before holding
roles at Pearson, the Financial Times, Goldman Sachs, and HM
Treasury. She was also group managing director, digital at
EMAP.
Claudia is currently Chair of the
Board of Deliveroo plc and, until she steps down in May 2024,
non-executive director and remuneration committee chair at Derwent
London plc. She also serves as a member of the Panel on Takeovers
and Mergers and is the lead non-executive Board member for the
Department for Digital, Culture, Media and Sport.