Kingfisher: Former Tesco exec heads for big role at B&Q owner
A former-Tesco exec is set to join the leadership team at Kingfisher, which owns B&Q and Screwfix, following the resignation of its chief financial officer Bernard Bot.
Bhavesh Mistry, who served as a deputy CFO at the supermarket giant from 2018 until 2021 and more recently as CFO for property developer British Land, will step into the role once Bot steps down “no earlier than January 2025”.
Kingfisher said Bot’s exit from the London-listed firm was due to his “retirement to further pursue his non-executive career”.
He had been in the role since 2019 following a stint as the CFO for New York-listed Travelport Worldwide.
Bot said: “I am proud of the progress we have made with Thierry, the Group Executive and all the teams over the past five years in building a stronger Kingfisher.
“It has been a privilege to serve as CFO and I would like to thank Thierry and the Board for their confidence and support. I am hugely grateful to my team and all the fantastic people I have had the opportunity to work with across the business.
“There is still a lot to do in the coming months and I look forward to my remaining time at Kingfisher and supporting a smooth transition to Bhavesh in due course.”
Mistry said: “I am very pleased to be joining a dynamic international retailer with a clear strategy and compelling growth opportunities.
“The pace of change at Kingfisher in recent years has been impressive and I am looking forward to working with its talented teams to build on this momentum and make the most of the many opportunities ahead.”
Thierry Garnier, Kingfisher CEO, said:”I am very pleased to welcome Bhavesh to Kingfisher as our new Chief Financial Officer. Bhavesh has a wealth of finance and retail experience, combined with a strategic mindset and an excellent track record of delivery. He is also a people-focused leader who will be a strong fit for our culture. We are fortunate to attract somebody of the calibre of Bhavesh, who will be a strong addition to our Board and our Group Executive team”.
“I would also like to personally thank Bernard for his huge contribution to Kingfisher. Bernard has been integral to the transformation of our business under the Powered by Kingfisher strategy and played a key role in leading us through the challenges of the pandemic.
“He has helped us to become a more agile and productive company, reducing costs and unlocking efficiencies, while investing for growth and delivering attractive shareholder returns. He will leave a very strong legacy to build on.”