Thierry Garnier, chief executive of B&Q owner Kingfisher, is to step down after nearly seven years to lead Netherlands-headquartered supermarket group Ahold Delhaize.
His exact departure date is unconfirmed, but Kingfisher stated he has a 12-month notice period and will continue in the role while a successor is sought.
Ahold Delhaize expects Mr Garnier to replace its outgoing president and chief executive, Frans Muller, around its annual general meeting in April 2027.
Mr Garnier said it had been a “real privilege” to lead the group, which also owns Screwfix in the UK and a number of home improvement brands across Europe, such as Brico Depot and Castorama.
He said: “I remain focused on continuing to execute on our strategic plans with all my energies, so as to leave Kingfisher in the best possible shape for the future, and I look forward to ensuring a successful transition to my successor in due course.”
Mr Garnier joined Kingfisher as chief executive in September 2019, just before the Covid-19 pandemic struck and at a torrid time for the group, which was shutting shops and battling tumbling profits.
Previous boss Veronique Laury had led a lengthy and drastic overhaul, which took its toll on the firm’s performance.
He joined with a priority to fix issues with the group’s IT and supply chain in France and halting some initiatives to concentrate on reversing sales declines.
Mr Garnier then steered the group through the pandemic and the boom in demand for home improvement products during multiple lockdowns, which was following by volatile trading in the years that followed.
Claudia Arney, chair of Kingfisher, said: “During his tenure, Thierry has overseen the launch and progress of our ‘Powered by Kingfisher’ strategy, led the company through the Covid-19 pandemic and driven many strategic innovations such as the launch of Kingfisher’s marketplaces and the development of our trade business, while also executing at pace on all our priorities.
“Under his leadership, Kingfisher has become a leading home improvement group underpinned by strong banners across the UK and Europe.”
Wiebe Draijer, chair of the supervisory board of Ahold Delhaize, said Mr Garnier was a “seasoned leader with a strong track record in retail, digital transformation, deep international experience, and a clear focus on customers, associates and the future of grocery retail”.
