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Home improvement retailer Kingfisher names Claudia Arney as new chair
Global Banking and Finance Review
Company
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.
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)
Corporate governance refers to the systems, principles, and processes by which companies are directed and controlled. It encompasses the relationships among the stakeholders and the goals for which the corporation is governed.
A non-executive director is a member of a company's board of directors who does not engage in the day-to-day management of the company. They provide independent oversight and contribute to strategic decision-making.
A chairperson is the highest officer of an organization's board of directors. They are responsible for leading board meetings, ensuring effective governance, and representing the organization in various capacities.
A general meeting is a gathering of the members or shareholders of a company to discuss important matters, including financial performance, governance, and strategic direction. It is often held annually.
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