B&Q owner Kingfisher appoints Carrefour exec as new boss
B&Q owner Kingfisher today said it has appointed Thierry Garnier as its new chief executive as the home improvement chain looks to turn around its ailing fortunes.
Garnier, who has held senior roles at French retail giant Carrefour over the last 20 years, will join the DIY group in the autumn.
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It comes after the shock departure of chief executive Veronique Laury, who has overseen a swathe of store closures as part of a five-year turnaround plan.
The FTSE 100 firm’s last annual report showed underlying pre-tax profit slumped 13 per cent to £693m, as like-for-like sales took a tumble.
Before his time at Carrefour, Garnier served as a technical adviser to EU Brexit negotiator Michel Barnier, who was then France’s minister for European affairs.
Kingfisher chairman Andy Cosslett said: “On behalf of the board, I am delighted to welcome Thierry to Kingfisher. He is a highly talented international retailer and proven business leader, with a strong track record over many years at Carrefour.
Read more: B&Q owner Kingfisher’s boss to depart as profits slump
“Throughout his career he has led significant businesses through complex change programmes while operating in competitive and rapidly changing retail environments.”
Kingfisher, which also owns trade tool retailer Screwfix, said Laury will step down by the end of September, and the effective date of Garnier’s appointment will be announced in due course.