Kingfisher Names Former OBI Chief Sebastian Gundel as Next CEO

Kingfisher (LON: KGF) has named Sebastian Gundel, the former chief executive of home improvement chain OBI, as its next CEO from the 1st of February 2027. The home improvement retailer announced the appointment at 8am today, and its shares were up 1% in early trading.

Kingfisher shares traded at 322.3p by 9.09am, up 1.0% from yesterday’s close of 319.1p, with a day range of 321.4p to 325.1p. That is 17% above the close on the 10th of July but 6% below the 343.7p close on the 22nd of September.

Thierry Garnier stays as CEO until the 31st of December, when he steps down from the role and the board. Chief financial officer Bhavesh Mistry will be interim CEO during January, and Gundel joins the board on the 1st of February. The statement gives no reason for Garnier’s departure and presents it as a planned handover.

Gundel was most recently CEO of OBI and before that its Chief Customer and Digital Officer. He has more than two decades in home improvement, and led OBI’s omnichannel transformation (selling seamlessly across shops and online), loyalty, marketplaces (third-party sellers on a retailer’s website) and expansion of its trade offer for professional builders.

Those themes match the growth areas Gundel named in the announcement.

The industry is evolving rapidly, creating significant opportunities across trade, digital, marketplaces, services and new customer propositions.

Sebastian Gundel, CEO Designate, Kingfisher

Chair Claudia Arney said the board had made the appointment after a thorough selection process, and that Gundel would build on the progress made under Garnier while bringing fresh perspectives. The announcement carries no change to guidance or strategy, so the board is framing it as continuity.

Garnier said it had been an honour to lead Kingfisher and that he was proud of what its teams had achieved together.

The announcement landed at the open, so the 1% rise fits the timing, but the move is small and the shares were already rising from yesterday’s close. Arney remains chair until the 2029 annual general meeting.