Kingfisher, the parent company of B&Q and Screwfix, has announced that current chairman Peter Jackson will retire at the next annual general meeting on June 3. Daniel Bernard, the current deputy chairman, will succeed him.
Mr Bernard's appointment comes, says the company, at a "particularly important time in the group's evolution and in conditions which are some of the most challenging that the retail industry has experienced globally for many years."

Commenting on the news of the appointment Mr Jackson said: ""I've enjoyed my time as Chairman through a period of great change, during which many important strategic and managerial decisions have been made. Whilst the company clearly faces an extremely challenging environment, the strength of its positions in major markets, its financial strength and an outstanding management team make it very well placed to succeed. I am personally delighted that Daniel has agreed to succeed me as Chairman. I wish him and the company every success."

Kingfisher group ceo Ian Cheshire, echoed his remarks saying: "I would like to thank Peter for all of the energy and wisdom he brought to the role and I will be sorry to see him go. I am, however, delighted that Daniel, one of the most experienced international retailers in the world, has accepted the role as Chairman. Daniel's outstanding expertise in international retailing made him the ideal successor at our current stage of development. Over the past few years I have benefited greatly from his experience and I am sure he will be a great asset to the Group in his new role."

Daniel Bernard said: "Peter has done an excellent job as Chairman and I am honoured to succeed him. Kingfisher is a strong business with clear and ambitious plans and I am very much looking forward to working with Ian Cheshire and my other Board colleagues on delivering value for our shareholders."

John Nelson, who also continues as the senior independent director, will fill the deputy chairman role.