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Kingfisher hires Bot to continue board transformation

Bernard Bot's appointment comes in the wake the September departure of former CEO Veronique Laury, whose three-year transformation plan failed to fix the fortunes of the FTSE 250 company

Kingfisher plc -

Kingfisher plc (LON:KGF) has hired Bernard Bot as its chief financial officer to continue the DIY retailer’s boardroom makeover after its share price have dropped 40% in the last five years.

Bot recently served as CFO at travel technology firm Travelport Worldwide, where he oversaw a restructuring of the company from a traditional content distributor to a digital-led commerce platform.

READ: Kingfisher boss ends tenure with a whimper as profits sink

Prior to this, the Dutchman held financial management positions at Aer Lingus, TNT Express and was the partner at McKinsey & Company in charge of its post and logistics division.

New chief executive Thierry Garnier called Bot a “highly experienced CFO” whose central role in the successful transformations at both TNT and Travelport make him “ideally suited to Kingfisher”.

John Wartig, interim chief financial officer since April, will also step into the newly-created role of chief transformation and development officer, remaining on the executive team.

Together the trio are taking charge after the September departure of Veronique Laury, whose three-year transformation plan failed to fix the fortunes of the FTSE 250 company.

Bot will take up his role and be appointed to the board of directors later this month.

Shares in Kingfisher were trading at 188.7p at market open on Wednesday.

Quick facts: Kingfisher PLC

Price: 270.3 GBX

LSE:KGF
Market: LSE
Market Cap: £5.7 billion
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