Screwfix owners appoint new chief financial officer

The owner of Somerset firm Screwfix has appointed a new chief financial officer.

Kingfisher, which also owns B&Q and stores across Europe. Has announced that Bhavesh Mistry will join its board as chief financial officer.

Bhavesh will succeed the current CFO Bernard Bot, who will retire to further pursue his non-executive career.

Bernard’s leaving date is to be confirmed but will be no earlier than January 2025 and he will support the transition before his retirement. An exact start date for Bhavesh will be announced in the coming weeks.

Bhavesh has extensive finance and retail experience gained in senior roles across a range of listed businesses.

He 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 Anheuser-Busch InBev.

Thierry Garnier, Kingfisher 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. 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”.

“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 and played a key role in leading us through the challenges of the pandemic. He has helped us to become a more agile and productive company, reducing costs and unlocking efficiencies, while investing for growth and delivering attractive shareholder returns. He will leave a very strong legacy to build on.”

Bhavesh Mistry said: “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.”

Bernard Bot said: “I am proud of the progress we have made with Thierry, the Group Executive and all the teams over the past five years in building a stronger Kingfisher. It has been a privilege to serve as CFO and I would like to thank Thierry and the Board for their confidence and support. I am hugely grateful to my team and all the fantastic people I have had the opportunity to work with across the business. There is still a lot to do in the coming months and I look forward to my remaining time at Kingfisher and supporting a smooth transition to Bhavesh in due course.”

Bhavesh will join Kingfisher’s Board and become a member of Kingfisher’s group executive. He will be based at Kingfisher’s head office in Paddington, London.

Kingfisher plc is an international home improvement company with over 2,000 stores and 78,000 employees.

It operates in eight countries across Europe under retail banners including Screwfix, B&Q, Castorama, Brico Dépôt, TradePoint and Koçtas,