Kingfisher has announced that its chairman Daniel Bernard will be stepping down from his role as chairman at the group's AGM in June.

Mr Bernard has held the post of chairman for eight years, and has been on the board for 11. He will be succeeded by Andy Cosslett, who will be appointed to the board as a non-executive director and chairman-designate on April 1. He will formally take over as chairman at the AGM.

Said Mr Bernard: “We are delighted to welcome Andy to Kingfisher. He is a very experienced board director with strong branding and consumer credentials gained at companies such as Unilever, Cadbury Schweppes and InterContinental Hotels. As we are now at the end of the first year of our exciting five year transformation plan, I believe it is the right time for a new Chairman to oversee its full delivery and Andy is uniquely placed to do this. It has been a real privilege to chair this company and I wish Andy, Véronique and all the team the very best for the future.”

Chief executive officer Veronique Laury added: “I would personally like to thank Daniel for his support and wise advice since my appointment as CEO two years ago. His deep understanding of retail and its necessary evolution, his passion for people and his great leadership has been so important to Kingfisher, the Board, the leadership team and of course, myself. He has supervised the new strategic thinking as well as the first successful year of transformation with challenge and dedication. I have been lucky to work with him. I now look forward to working with Andy, remaining as confident as ever in our ability to deliver our plan.”

Andy Cosslett said: “I am very pleased to be taking on this role at such an exciting time for the company and look forward to joining a very strong and diverse board.”