Andrew Cosslett is stepping down as chair of FTSE 100-listed B&Q owner Kingfisher after seven years in the role, having decided not to stand for re-election at the company’s annual general meeting on 20 June.
Cosslett will be succeeded by Claudia Arney, who has served as an independent non-executive director of Kingfisher since November 2018. Arney also chairs Kingfisher’s remuneration committee.
"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,” said Cosslett.
Senior independent director Catherine Bradley added: “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.”