Home improvement retailer Kingfisher names Claudia Arney as new chair

Home improvement retailer Kingfisher names Claudia Arney as new chair

LONDON (Reuters) – European home improvement retailer Kingfisher said on Monday that Chair Andrew Cosslett will step down in June after seven years in the role and will be succeeded by non-executive director Claudia Arney.

The changes will take place at the conclusion of the company’s annual general meeting on June 20, said the FTSE-100-listed owner of B&Q and Screwfix in Britain and Castorama and Brico Depot in France.

Arney has served as an independent non-executive director of Kingfisher since 2018 and is currently chair of Deliveroo and a non-executive director of Derwent London.

She has previously held non-executive roles at the Premier League, Telecity Group, Halfords, Ocado and Aviva.

Last month, Kingfisher warned profit would fall again this year after a 25% slump in its 2023-24 year that reflected a particularly weak French market.

Its shares are down 2% year-on-year.

(Reporting by Yadarisa Shabong in Bengaluru and James Davey in London, Editing by Sherry Jacob-Phillips and Louise Heavens)