Kingfisher taps British Land's Mistry as next CFO
FILE PHOTO: Signage is seen outside a B&Q DIY retail store in Manchester, Britain, June 14, 2024. REUTERS/Phil Noble
(Reuters) -Home improvement retailer Kingfisher Plc on Monday named British Land finance chief Bhavesh Mistry as its next CFO to replace Bernard Bot who will retire.
British Land in a separate statement said that Mistry has a 12-month notice period and a date for his departure will be agreed. Kingfisher said Bot is scheduled to leave no earlier than January 2025.
Mistry has been the CFO of British Land for three years. During his stint the commercial property firm has sold stakes in London office complexes and in shopping centres.
He was deputy CFO at supermarket operator Tesco from 2018 to 2021 and has also held senior finance positions at hospitality group Whitbread, Virgin Media and brewer Anheuser-Busch InBev.
Kingfisher, which owns the B&Q and Screwfix brands in Britain, has struck a cautious tone on the market in 2024 amid weakness in demand in so-called "big ticket" categories.
(Reporting by Chandini Monnappa and Aby Jose Koilparambil in Bengaluru; editing by Sonia Cheema and Jason Neely)