Kingfisher PLC (LSE:KGF) rose slightly as it unveiled British Land’s finance head Bhavesh Mistry as its new chief financial officer.
Mistry will succeed current CFO Bernard Bot, who is stepping down to pursue a non-executive career.
An exact start date for Mistry will be announced later but Bot will not leave before January 2025.
Mistry was Deputy CFO of Tesco from 2018 to 2021 before taking over as CFO of British Land in 2021 and prior to that held senior finance positions at Whitbread, Virgin Media and Anheuser-Busch InBev (NYSE:BUD).
Thierry Garnier, Kingfisher's chief executive, said: "I am very pleased to welcome Bhavesh to Kingfisher as our new chief financial officer. Bhavesh has a wealth of finance and retail experience, combined with a strategic mindset and an excellent track record of delivery.
"I would also like to personally thank Bernard for his huge contribution to Kingfisher. Bernard has been integral to the transformation of our business under the Powered by Kingfisher strategy.”
Mistry will join Kingfisher's board and become part of Kingfisher's Group Executive.
Shares in B&Q, Screwfix and Castorama owner rose 0.9% to 250.7p.