Directorate Change

RNS Number : 0396P

Kingfisher PLC

18 March 2009

 



18 March 2009

Kingfisher plc announces Daniel Bernard to succeed Peter Jackson as Chairman on his retirement at the next Annual General Meeting.  

The Board of Kingfisher plc, Europe's leading home improvement retailer, today announces that Peter Jackson will retire as Chairman after the Annual General Meeting on 3 June 2009. The Board is delighted to announce that Daniel Bernard will be appointed as Chairman with effect from that date. Mr Bernard is currently Deputy Chairman of Kingfisher. John Nelson will continue as the Senior Independent Director and become Deputy Chairman.

When Mr Jackson indicated to the Board his desire to retire in order to reduce his business commitments, the Kingfisher Board undertook a thorough review process, with the help of outside consultants. 

In light of this review the Board concluded that Mr Bernard was the right successor. As well as his broad board level experience at major international companies he also brings an unrivalled record of international retailing experience at a particularly important time in the Group's evolution and in conditions which are some of the most challenging that the retail industry has experienced globally for many years. As Deputy Chairman of Kingfisher he has already played a significant role in the major strategic and management decisions that have been taken in the last few years.

Peter Jackson, who became Chairman of Kingfisher in May 2006, said: 'I've enjoyed my time as Chairman through a period of great change, during which many important strategic and managerial decisions have been made. Whilst the company clearly faces an extremely challenging environment, the strength of its positions in major markets, its financial strength and an outstanding management team make it very well placed to succeed. I am personally delighted that Daniel has agreed to succeed me as Chairman. I wish him and the company every success.'

Daniel Bernard said: 'Peter has done an excellent job as Chairman and I am honoured to succeed him. Kingfisher is a strong business with clear and ambitious plans and I am very much looking forward to working with Ian Cheshire and my other Board colleagues on delivering value for our shareholders.'

Ian Cheshire, Kingfisher's Group Chief Executive, said: 'I would like to thank Peter for all of the energy and wisdom he brought to the role and I will be sorry to see him go. I am, however, delighted that Daniel, one of the most experienced international retailers in the world, has accepted the role as Chairman. Daniel's outstanding expertise in international retailing made him the ideal successor at our current stage of development. Over the past few years I have benefited greatly from his experience and I am sure he will be a great asset to the Group in his new role.'

Notes to Editors

• The process of selecting the new Chairman was undertaken by the Nominations Committee, comprising all the non-executive directors and chaired by John Nelson, the senior independent director. Outside advice was taken from Russell Reynolds.

• Daniel Bernard was appointed Non-Executive Deputy Chairman of Kingfisher in May 2006. He was Chairman and Chief Executive of Carrefour, the Paris-based retail group and world's second largest retailer, from 1992 to 2005. Prior to Carrefour, he was Chief Operating Officer of METRO, Germany's leading international retailer. He is President of Provestis, his own investment company and a non-executive Director of Alcatel Lucent and Capgemini. He is also President of the HEC Foundation in Paris. He was previously non-executive director of Compagnie de St Gobain in France and Price Costco, Office Depot and Petsmart in the USA. He is a Chevalier de la Légion d'honneur (France) and was recently awarded l'Ordre national du Mérite. Age 63.

Kingfisher Profile:

Kingfisher plc is Europe's leading home improvement retail group and the third largest in the world, with over 820 stores in eight countries in Europe and Asia. Its main retail brands are B&Q, Castorama, Brico Dépôt and Screwfix. Kingfisher also has a 21% interest in, and strategic alliance with Hornbach, Germany's leading large format DIY retailer, with over 120 stores in nine European countries.

Enquiries:

Ian Harding, Group Communications Director	020 7644 1029
Nigel Cope, Head of Communications	020 7644 1030
Sarah Gerrand, Head of Investor Relations	020 7644 1032

Further copies of this announcement can be downloaded from www.kingfisher.com or by application to: The Company Secretary, Kingfisher plc, 3 Sheldon Square, London, W2 6PX.

 

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