Kingfisher plc (LON:KGF) has announced the appointment of Lucinda Riches to its Board of Directors as a Non-Executive Director and member of the Audit, Nomination, Remuneration and Responsible Business Committees with effect from 1 January 2025. Lucinda will be appointed Remuneration Committee chair at the conclusion of the 2025 AGM, succeeding Rakhi Goss-Custard.
Rakhi will have served on the Board for nine years on 31 January 2025 and has agreed to continue in post until the conclusion of the 2025 AGM to support an effective transition to Lucinda. At that time, she will then step down from the Board and as Remuneration Committee chair.
Lucinda is currently the independent Non-Executive Chair of Greencoat UK Wind plc and Peel Hunt Limited. She is also a non-executive director of Ashtead Group plc, where she chairs the remuneration committee. Lucinda has confirmed that she will be stepping down from one of her other listed positions during the course of 2025.
Prior to becoming a non-executive director, Lucinda had an executive career in investment banking at UBS where she was Global Head of Equity Capital Markets and a member of the board of UBS Investment Bank. Her previous non-executive director roles include CRH plc, ICG Enterprise Trust plc, the British Standards Institution, Diverse Income Trust plc and UK Financial Investments Ltd.
Commenting on the changes, Claudia Arney, Chair of Kingfisher’s Board, said:
“I am delighted to welcome Lucinda to the Board. She is highly experienced, having served in several roles as a non-executive director, board chair and remuneration committee chair across multiple sectors, following a distinguished senior executive career in investment banking. Her experience will be invaluable as we continue to support our management team to drive Kingfisher’s strategy forward as well as making her an excellent choice to succeed Rakhi as Remuneration Committee chair.
While Rakhi will remain with us until the conclusion of the 2025 AGM, I would also like to take this opportunity to sincerely thank her for her many contributions and valuable insights to Kingfisher over the last nine years. I would also like to particularly thank Rakhi for stepping in as Remuneration Committee chair for an important year and overseeing the review of our remuneration policy.”
