B&Q owner Kingfisher names OBI boss Sebastian Gundel as its new chief executive after a five-month search

Sebastian Gundel, who has led German DIY chain OBI since 2022, will take over as Kingfisher chief executive on February 1 after a five-month search for a successor. Outgoing boss Thierry Garnier leaves at the end of the year, with chief financial officer Bhavesh Mistry stepping in as interim chief executive to bridge the gap. Kingfisher chair Claudia Arney praised Gundel's "deep experience in home improvement retail" and his track record of innovation at OBI, which operates more than 660 stores across 10 countries.

Gundel joined OBI in 2012 as head of corporate development before ascending to the top job four years ago.

Garnier, who steered Kingfisher through Covid and an extended stretch of declining profits, is leaving to head Dutch supermarket group Ahold Delhaize.

Gundel said he has "long admired" Kingfisher's scale and identified digital, trade and marketplace growth as his key priorities.