Kingfisher CEO Succession Planning

RNS Number : 4137T

Kingfisher PLC

20 March 2019

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Kingfisher plc

Announcement regarding CEO succession

Kingfisher plc ('Company' or 'Kingfisher') today announces that, as part of the Board's regular talent and succession planning process, a decision has been made to launch the succession process for the position of Group Chief Executive Officer. This will commence immediately. Véronique Laury, Group Chief Executive Officer, fully supports the decision, and both she and the Board wish to ensure an orderly transition.

A departure date has not yet been decided and this will be confirmed by the Company in due course and, until then, Véronique will continue with her responsibilities.

Véronique Laury, Chief Executive Officer, commented:

"I have enjoyed leading the ONE Kingfisher team through the transformation to become the leading home improvement company. We have a strong purpose to create good homes by making home improvement accessible for everyone. I have always been passionate about this and still am. I would like to thank all our colleagues for their hard work and great achievements. Leading the transformation has been so exciting but also very challenging. As the transformation approaches its final year, I believe it is right for someone else to lead the next phase of the ONE Kingfisher journey.

I will continue to give 100 per cent until the day I depart."

Andy Cosslett, Chairman, commented:

"Vero has been a powerful leader of the business and the driving force behind our plan to turn Kingfisher into a more unified and innovative business. This year will mark a transition in our transformation journey having now reached a critical mass. We are starting to see clear evidence emerging that we can create a powerful and differentiated home improvement experience for our customers which will convert to profitable growth going forward.  

We are now moving into a new phase where we can extract more of the benefits resulting from the hard work that has been put in, and it is therefore timely that we commence a succession process. Vero has brought great vision to the business and I would like to take this opportunity to thank her for all of her hard work and passion, and for her ongoing commitment to transforming Kingfisher into a business with a stronger foundation for sustainable growth."

Further updates will be provided as appropriate.

Enquiries:

Group Company Secretary	Investor Relations
[phone]	[phone]
Media Relations	Teneo Blue Rubicon
[phone]	[phone]

About Kingfisher plc:

Kingfisher plc is an international home improvement company with over 1,200 stores in 10 countries across Europe, Russia and Turkey, supported by a team of 77,000 colleagues. We operate under four retail brands - B&Q, Castorama, Brico Dépôt and Screwfix. We offer DIY and home improvement products and services to nearly six million customers who shop in our stores and through our digital channels every week. Our customers are everyone wanting to improve their home, as well as the experts and trade professionals who help them.

We believe everyone should have a home they feel good about, so our purpose is to make home improvement accessible for everyone. www.kingfisher.com

 

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