Kingfisher chair to step down in June

Cosslett has decided not to stand for re-election at the company's AGM in June and will be succeeded by Claudia Arney, who has been an independent non-executive director since 2018 and is currently chair of the remuneration committee.

Arney is said to bring "a wealth of experience of business transformation and building digital capabilities", having previously served as interim chair of the Premier League and other non-executive roles at Halfords, Ocado and Aviva. She also serves as a member of the Panel on Takeovers and Mergers and is the lead non-executive board member for the Department for Digital, Culture, Media and Sport.

After careful consideration and a thorough process, the board is confident that Claudia is an excellent choice," said Catherine Bradley, senior independent director.

"During her time as a non-executive director, Claudia has demonstrated that she has a breadth of knowledge and experience which, together with her leadership and judgment, will be crucial as we drive our strategy forwards."