B&Q-owner Kingfisher has announced that Bhavesh Mistry will become its next Chief Financial Officer.
He will succeed current CFO Bernard Bot, who is retiring to pursue his non-executive career. His leaving date has yet to be confirmed but it will be no earlier than January next year.
Mistry is currently CFO of British Land, where he has served in the role since 2021, and was Deputy CFO of Tesco from 2018 to 2021. Before that, he held senior finance positions over more than two decades at a range of major companies including Whitbread, Virgin Media and AB InBev.
Kingfisher’s CEO Thierry Garnier commented: “Bhavesh has a wealth of finance and retail experience, combined with a strategic mindset and an excellent track record of delivery. He is also a people-focused leader who will be a strong fit for our culture. We are fortunate to attract somebody of the calibre of Bhavesh, who will be a strong addition to our Board and our Group Executive team”.
Mistry added: “I am very pleased to be joining a dynamic international retailer with a clear strategy and compelling growth opportunities. The pace of change at Kingfisher in recent years has been impressive, and I am looking forward to working with its talented teams to build on this momentum and make the most of the many opportunities ahead.”
Last month, Kingfisher reported a 0.9% drop in first-quarter underlying sales as growth in its domestic market was offset by poor performance in France.
