DIY giant Kingfisher has appointed Bhavesh Mistry as its new chief financial officer and board member.

Exterior of B&Q Hedge End store

Kingfisher, which owns B&Q and Screwfix, has hired a new chief financial officer

Mistry will succeed current chief financial officer Bernard Bot, who is set to retire at the end of the year.

An exact start date for Mistry is yet to be announced.

Mistry is currently chief financial officer at property development company British Land, a position he has held since 2021.

He was deputy chief financial officer at Tesco from 2018 to 2021 and has held various senior finance positions over more than two decades at companies including Whitbread, Virgin Media and Anheuser-Busch.

Thierry Garnier, chief executive of Kingfisher, said: “I am very pleased to welcome Bhavesh to Kingfisher as our new chief financial officer.

“Bhavesh has a wealth of finance and retail experience, combined with a strategic mindset and an excellent track record of delivery. He is also a people-focused leader who will be a strong fit for our culture.

“We are fortunate to attract somebody of the calibre of Bhavesh, who will be a strong addition to our board and our group executive team.

“I would also like to personally thank Bernard for his huge contribution to Kingfisher. Bernard has been integral to the transformation of our business under the Powered by Kingfisher strategy and he played a key role in leading us through the challenges of the pandemic.

“He has helped us to become a more agile and productive company, reducing costs and unlocking efficiencies while investing for growth and delivering attractive shareholder returns. He will leave a very strong legacy to build on.”

Mistry said: “I am very pleased to be joining a dynamic international retailer with a clear strategy and compelling growth opportunities.

“The pace of change at Kingfisher in recent years has been impressive and I am looking forward to working with its talented teams to build on this momentum and make the most of the many opportunities ahead.”