October 9, 2019 / 6:26 AM / 7 days ago

Britain's Kingfisher names Bernard Bot as finance chief

LONDON (Reuters) - British home improvement group Kingfisher (KGF.L) completed the line up of its top management with the appointment of Bernard Bot as its new finance chief on Wednesday.

Dutch national Bot, most recently finance chief at Travelport Worldwide, a global technology platform, will take up the role on Oct. 21.

His appointment comes less than a month after new chief executive Thierry Garnier started work at Kingfisher, whose main businesses are B&Q in Britain and Castorama in France and other countries.

Garnier has been tasked with restoring the fortunes of a group whose shares have fallen 24% over the last year.

Kingfisher is in the fourth year of a five-year program that was designed to boost earnings. However, profits reversed in 2018-19 and the group said in March it would part company with Véronique Laury, who had been its CEO since 2014.

Bot, also a former CFO of Irish airline Aer Lingus, will receive a basic salary of 565,000 pounds ($689,526) and a pension allowance of 12.5% of salary. He will also be eligible to participate in Kingfisher’s annual bonus scheme, long term incentive scheme and share award.

The group also said that John Wartig, who joined as interim CFO in April, has been appointed to the newly created role of chief transformation and development officer.

Reporting by James Davey; editing by Kate Holton

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