Ahold Delhaize hires Kingfisher's Garnier to replace Muller as CEO

(Alliance News) - Ahold Delhaize NV on Wednesday said it has hired the head of Kingfisher PLC to be its new chief executive officer, replacing Frans Muller in a year's time.

Kingfisher is a London-based home improvement products retailer under B&Q, Screwfix, Castorama and Brico Depot brands in France, Poland and the UK. It confirmed that CEO Thierry Garnier has resigned "to take up a senior leadership role at another company outside of Kingfisher's markets", which it didn't name.

Garnier has been in post at Kingfisher for seven years, prior to which he worked at French big-box retailer Carrefour SA for more 20 years. Kingfisher said he will serve his 12-month notice period, and the board has started to search for his successor.

Muller joined Ahold Delhaize, a Zaandam, Netherlands-based food retailer, in 2013 as the CEO of the Delhaize Group, taking over as CEO of the merged Ahold Delhaize in 2018. The company said Muller's departure is part of a planned CEO succession for 2027.

Supervisory Board Chair Wiebe Draijer called Garnier "a seasoned leader with a strong track record in retail, digital transformation, deep international experience, and a clear focus on customers, associates and the future of grocery retail.

"Thierry's approach to finding the right balance between leveraging group capabilities and staying close to local markets aligns well with Ahold Delhaize's identity as a family of great local brands."

Ahold Delhaize also said that Claude Sarrailh, CEO Ahold Delhaize Europe & Indonesia, has resigned to join Esselunga Spa, an Italian food retail chain, as CEO. He will serve his six-month notice period, the company said, and the search for a successor has begun.

The announcements came as Ahold Delhaize reported first-quarter earnings. It said net sales were EUR22.28 billion in the first 13 weeks of 2026, down 4.3% from EUR23.28 billion a year before, though up 2.0% at constant currency. Sales were up 2.7% at constant currency in Europe but up just 1.5% in the US.

Operating income was EUR895 million, up 1.7% from EUR880 million a year before and up 9.3% at constant currency. Diluted earnings per share were EUR0.62, up 2.8% from EUR0.60 a year before or 11% at constant currency. Diluted underlying EPS also was EUR0.62, up 1.3% or 8.9% at constant currency.

"Disruptions from geopolitical volatility and tensions, including the recent armed conflict in the Middle East, are a reality our business has managed through before," outgoing CEO Muller said.

"We draw on previous experience and on the measures we have put in place over the past few years to limit the short-term impacts," he added referencing Russia's invasion of Ukraine.

Ahold Delhaize confirmed the 2026 outlook that it provided with its 2025 results. This includes an underlying operating margin of around 4%. It was 4.0% in the first quarter. Diluted underlying EPS is expected to grow at a mid- to high-single-digit-percentage rate at constant exchange rates.

Ahold Delhaize shares were unchanged in Frankfurt on Wednesday morning at EUR39.46. Kingfisher was up 0.5% at 282.30 pence in London.

By Tom Waite, Alliance News editor

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