# Kingfisher plc appoints Thierry Garnier as Chief Executive Officer

- Link: https://www.directorstalkinterviews.com/kingfisher-plc-appoints-thierry-garnier-as-chief-executive-officer/412786264
- Published: 2019-06-27T07:25:14+01:00
- Author: Giles Arbor

Following the CEO succession announcement on 20 March, **[Kingfisher plc](https://www.directorstalkinterviews.com/ftse-company/kingfisher-plc/kgf.l)**(
LON: KGF) has today announced the appointment of Thierry Garnier as Chief Executive
Officer. Thierry will be appointed to the Board as an Executive Director and will
take over from Véronique Laury as Chief Executive Officer. He will be based at Kingfisher’s
headquarters in London and will join Kingfisher in the autumn. The effective date
of his appointment will be announced as soon as it is finalised.

Thierry is an experienced retailer having spent 20 years in senior roles at Carrefour,
the French multi-national retailer. He is currently a member of the Carrefour Group
Executive Committee and the Chief Executive Officer of Carrefour Asia, where he 
is responsible for over 350 stores in China and Taiwan, with 55,000 employees, and
gross sales of over €6bn. In this role, he has established a successful track record
of implementing business transformation in the face of significant competitive pressure
and sector disruption. As the leader of Carrefour’s Asian business since 2012 he
has developed and executed a strategy oriented around innovative new digital capabilities,
centralised buying, new format implementation, e-commerce and strengthening stakeholder
relationships.

From 2003 to 2008, Thierry was the Managing Director of Supermarkets for Carrefour
France, where he successfully rebranded the Champion supermarket format to the Carrefour
Market fascia. This format was rolled out to 1,000 supermarkets in France, with 
sales of approximately €13bn. During this period he oversaw a significant improvement
in performance by doubling non-food sales, investing in own-brand ranges, improving
the pricing structure and restructuring the supply chain. Following this successful
period, he became Carrefour’s International Operations Director in 2008, with a 
broader remit including Asia, Latin America and various European countries.

**Andy Cosslett, Chairman of Kingfisher plc, said:**

> “On behalf of the Board, I am delighted to welcome Thierry to Kingfisher. He is
> a highly talented international retailer and proven business leader, with a strong
> track record over many years at Carrefour. Throughout his career he has led significant
> businesses through complex change programmes while operating in competitive and
> rapidly changing retail environments.
> In what was a rigorous recruitment process, Thierry stood out for the Board from
> a strong list of candidates due to his recognised operational know-how at a multi-
> national retail business, his delivery of long-term value creation, and his experience
> in driving leading edge digital innovation, most recently in China.
> At Kingfisher he will take the reins of a strong and profitable business, and 
> one which is also transforming to better serve its customers. In Thierry, we are
> convinced that we have found the right individual with the right skills to drive
> success from the platform that Véronique has established at Kingfisher.
> The Board and I would again like to thank Véronique for her energy, her vision
> and determination in driving the transformation, and for successfully laying the
> foundations for future growth.”

**Thierry Garnier commented:**

> “I am delighted to be joining Kingfisher at an exciting point of its development.
> For over 20 years, I have had a great passion for retail, for retail teams, and
> for understanding and addressing changing customer behaviours. I believe that 
> the home improvement market provides great opportunity for us, and by harnessing
> Kingfisher’s market leading positions and obvious strengths, consistently meeting
> our customers’ needs, embracing our digital opportunity and driving innovation,
> I am confident that we can build an even stronger business for our customers, 
> our colleagues and our shareholders.”

**Statutory and other disclosures**

The Company confirms there is no further information to be disclosed under the requirements
of Listing Rule 9.6.13R in relation to Thierry Garnier’s appointment.

Thierry’s service contract, remuneration and benefits will be consistent with the
Kingfisher Remuneration Policy subject to approval by shareholders at the AGM in
July 2019. Further detail will be set out once Thierry’s effective appointment date
has been finalised.

Véronique Laury will step down from the Board and as Chief Executive Officer by 
the end of September 2019.

Kingfisher’s Half Year Results will be announced on 18 September 2019.

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