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Kingfisher has announced that Andrew Cosslett is set to step down as chair of the company after seven years as chair of the board.
He has decided not to stand for re-election and will therefore step down from the board at the conclusion of the company’s AGM on 20 June.
Cosslett will be succeeded by Claudia Arney, who has served as an independent non-executive director of Kingfisher since November 2018 and currently also chairs the board’s remuneration committee.
Catherine Bradley CBE, senior independent director, said: “On behalf of the board, I would like to thank Andy for his outstanding leadership and extensive contributions. He has overseen an important period of change for the company, including the launch of the ‘Powered by Kingfisher’ strategy, laying the foundation for the company’s future success. We wish him the very best for the future.
“I would also like to congratulate Claudia on her appointment as chair of the board. After careful consideration and a thorough process, the board is confident that Claudia is an excellent choice. During her time as a non-executive director, Claudia has demonstrated that she has a breadth of knowledge and experience which, together with her leadership and judgement, will be crucial as we drive our strategy forwards.”
Cosslett said: “It has been a privilege to serve as Kingfisher’s chair over the last seven years. During this time we have changed and strengthened our leadership team, put in place a more effective business strategy, managed the pandemic and worked hard to further the company’s reputation as a champion for responsible business.
“I am proud to have been able to play my part and am delighted to now pass the baton onto Claudia whose skills and judgement will be key in ensuring the good progress continues. I leave the company with great confidence in its future.”
Arney added: “Kingfisher is a fantastic business, which maintains a sharp focus on striving to better serve its customers while delivering long-term value for all its stakeholders. I look forward to continuing to support our great management team in our mission of making home improvement accessible to everyone.
“Since joining the board in 2018, I have learned a great deal about the complexities and nuances of our business and retail banners, and about our 80,000 passionate and committed colleagues in many countries. It is an honour to take on the role.”
On appointment, Arney will step down as chair of the remuneration committee and will be succeeded by Rakhi Goss-Custard from the conclusion of the 2024 AGM.
