He will be succeeded by Peter Jackson, who joins the board as a non-executive director on January 3 and will become chairman after the next AGM on May 24, 2006.
Sir Francis is to leave Kingfisher at the next annual general meeting on May 24 next year. He said he had enjoyed his four-year stint at the retailer and credited himself and the rest of his team with transforming the group into 'a focused and genuinely international home improvement retailer'. He said: 'I believe Kingfisher is extremely well placed as one of the global leaders in its market and I wish Peter and all my Kingfisher colleagues continuing success.'
Peter Jackson retired as chief executive of Primark parent company Associated British Foods (ABF) in April, after six years in the role. He said of his new appointment: 'I am proud to succeed Francis Mackay and I am looking forward to working with Gerry Murphy and the Kingfisher board on the next phase of the company's development.'
Commenting on the changes, Kingfisher's group chief executive Gerry Murphy said: 'On behalf of the Kingfisher board, I would like to pay tribute to Francis, who has been an outstanding chairman, steering the company through a period of major change. We shall miss his wise counsel and good humour but wish him every success and happiness in the next phase of his life. I would also like to welcome Peter to the board and I look forward to working with him as we continue to grow and develop our business around the world.'
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