Business · Companies · 3 hrs ago
Kingfisher names OBI chief Sebastian Gundel as incoming CEO
Kingfisher has named Sebastian Gundel its next chief executive to lead the group that owns B&Q and Screwfix.
Gundel has led German home-improvement chain OBI since 2022.
He will take over next February from Thierry Garnier, who is leaving at the end of the year to lead supermarket group Ahold Delhaize.
Kingfisher finance chief Bhavesh Mistry will serve as interim chief executive until February 1 to support the transition.
Garnier has led Kingfisher for nearly seven years, after joining when the group was facing falling profits and problems with its French IT and supply chain.
The appointment follows a five-month search after Garnier announced his departure in May.
Gundel will lead Kingfisher as the home-improvement industry changes, with opportunities in digital services, marketplaces and trade.
Kingfisher has named OBI chief executive Sebastian Gundel as its incoming chief executive.
Gundel is due to take over from Thierry Garnier in February.
Garnier will leave at the end of the year, with chief financial officer Bhavesh Mistry serving as interim chief executive until February 1.
Gundel has led OBI since 2022 and joined the company in 2012.
His appointment follows a five-month search after Garnier announced in May that he would leave to lead Ahold Delhaize.
- Who
- Sebastian Gundel, chief executive of OBI, will become Kingfisher’s incoming chief executive.
- What
- Kingfisher has appointed Gundel to succeed Thierry Garnier.
- When
- He is due to take over in February, after Garnier leaves at the end of the year.
- Where
- Kingfisher, which owns B&Q and Screwfix. OBI is headquartered in Germany.
- Why
- Garnier announced plans to leave to lead Ahold Delhaize. Kingfisher said Gundel has relevant sector experience and a record of innovation and operational delivery.
This story does not have two clearly opposing sides.
Gundel joined OBI as head of corporate development.
Gundel became chief executive of OBI.
Garnier announced plans to leave Kingfisher to lead Ahold Delhaize.
Kingfisher announced Gundel’s appointment.
Garnier is due to leave Kingfisher.
Chief financial officer Bhavesh Mistry is due to serve as interim chief executive until this date.
- Incoming chief executive
- Sebastian Gundel
- Outgoing chief executive
- Thierry Garnier
- Interim chief executive
- Bhavesh Mistry
- Gundel at OBI
- Chief executive since 2022
- OBI footprint
- More than 660 stores and 40,000 staff across 10 countries
- Garnier’s next role
- Chief executive of Ahold Delhaize
What people are saying
Sebastian combines deep experience in home improvement retail and clear expertise in Kingfisher’s strategic growth drivers with a strong track record of innovation and operational delivery.
The industry is evolving rapidly, creating significant opportunities across trade, digital, marketplaces, services and new customer propositions.
I am confident that he will successfully lead Kingfisher through its next chapter.
Sources
Related news
Cyber incident affects systems at owner of Hobbs, Whistles and Phase Eight
Investment platforms are making it easier for beginners to get started
UK grocery inflation rises as shoppers turn to supermarket deals
Whitbread boss urges government to ease pressure on hotels
Daughter paid to bring her mother’s body home after insurer refused help
How to choose a UK investment platform
Guide compares six stocks and shares ISA platforms
No verifiable news details are provided
GranTerre buys British cheese and meat distributor Pimpernel Wharf
IMF urges UK to stick with plans to repair public finances
Poundland seeks buyer as management explores buyout
