Kingfisher chairman Peter Jackson is to retire from the company in June, the home improvement retailer has announced today.

He will be replaced at the annual general meeting by the current deputy chairman Daniel Bernard.

Jackson had been chairman of the company since May 2006.

Kingfisher’s senior independent director John Nelson will become deputy chairman, while also keeping his current role.

Peter Jackson said: "I've enjoyed my time as Chairman through a period of great change, during which many important strategic and managerial decisions have been made. Whilst the company clearly faces an extremely challenging environment, the strength of its positions in major markets, its financial strength and an outstanding management team make it very well placed to succeed."