Kingfisher Regulatory News (KGF)

KINGFISHER PLC

DIRECTORATE CHANGES

April 15, 2024

Kingfisher plc ('Kingfisher' or the 'Company') today announces that, after seven years as Chair of the Board, Andrew Cosslett has decided not to stand for re-election and will therefore step down from the Board of Directors at the conclusion of the Company's AGM on 20 June, 2024. Andrew 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. Her appointment will take effect at the same time.

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 judgment, will be crucial as we drive our strategy forwards."

Andrew 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."

Claudia Arney said: "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 nuance 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, Claudia will step down as Chair of the Remuneration Committee and will be succeeded by Rakhi Goss-Custard from the conclusion of the 2024 AGM. Rakhi has served as a Non-Executive Director of Kingfisher since February 2016, including as a member of the Remuneration Committee since March 2018, and has extensive knowledge of Kingfisher's business. She currently also chairs the Remuneration Committee of Trainline plc, and has previously served on the Remuneration Committee of Rightmove plc. The Board has agreed that in view of Rakhi's experience, she is very well positioned to take on the role, and to ensure effective continuity. Recognising Rakhi's existing length of service on the Board, a succession process is also ongoing to identify a new Remuneration Committee Chair to take on the role over the longer-term. 

This announcement is made in accordance with Listing Rule 9.6.11.

There are no further matters to be updated in respect of the directorate changes under Listing Rule 9.6.13R.

Enquiries:

About Claudia Arney:

Claudia joined the Board as a Non-Executive Director in November 2018 and is currently chair of the Remuneration Committee.

Claudia brings a wealth of experience of business transformation and building digital capabilities to the Board having previously held non-executive roles, including interim chair of the Premier League, senior independent director of Telecity Group plc, chair of the remuneration committee at Halfords plc, non-executive director at Ocado Group plc, and governance committee chair at Aviva plc. Claudia began her career at McKinsey & Company, before holding roles at Pearson, the Financial Times, Goldman Sachs, and HM Treasury. She was also group managing director, digital at EMAP.

Claudia is currently Chair of the Board of Deliveroo plc and, until she steps down in May 2024, non-executive director and remuneration committee chair at Derwent London plc. She also serves as a member of the Panel on Takeovers and Mergers and is the lead non-executive Board member for the Department for Digital, Culture, Media and Sport.