Kingfisher names OBI's Sebastian Gundel as new CEO
Kingfisher names OBI's Sebastian Gundel as new CEO LONDON, Oct 13 (Reuters) - European home improvement retailer Kingfisher KGF.L on Tuesday named Sebastian Gundel as chief executive from February 1, 2027, succeeding Thierry Garnier who is stepping down at the end of this year.
Gundel is currently the CEO of Germany-based European home improvement retailer OBI
Prior to becoming CEO in 2022, he held a series of senior leadership roles spanning strategy, marketing, customer experience, digital transformation and international operations
Garnier resigned in May after nearly seven years as CEO to become the boss of Netherlands-based supermarket group Ahold Delhaize AD.AS
Garnier will remain as CEO until December 31. Bhavesh Mistry, CFO, will serve as interim CEO during January to support a smooth transition
Claudia Arney will continue as chair until Kingfisher's 2029 annual shareholders' meeting, ensuring continuity through the leadership transition
Last month, Kingfisher, which owns B&Q and Screwfix in the UK and Castorama and Brico Depot in France and other markets, raised its full-year profit forecast after delivering a better-than-expected 9.9% increase in its first half
Shares in Kingfisher were up 1.5%, extending year-on-year gains to 9%
(Reporting by James Davey; Editing by Kirsten Donovan)