Change in leadership at Kingfisher as Andrew Cosslett resigns

  • Andrew Cosslett stepping down as chair of Kingfisher after seven years
  • Claudia Arney to take over as chair
  • Rakhi Goss-Custard to become chair of the board’s remuneration committee
  • Kingfisher warned on profits for the third time in six months
  • Adjusted pre-tax profits for the DIY group dropped to £568m

Kingfisher has announced that Andrew Cosslett, the chair of the board, will be stepping down from his role after serving for seven years. Claudia Arney, the independent non-executive director, will take over as the new chair. Rakhi Goss-Custard, another non-executive director, will assume the role of chair of the board’s remuneration committee. This change in leadership comes after Kingfisher warned on profits for the third time in six months, with adjusted pre-tax profits dropping to £568m.

Factuality Level: 8
Factuality Justification: The article provides factual information about the announcement of Andrew Cosslett stepping down as the chair of Kingfisher’s board and Claudia Arney taking over the role. It also includes details about the company’s financial performance and recent warnings on profits. The article does not contain any irrelevant information, misleading details, sensationalism, redundancy, or opinion masquerading as fact.
Noise Level: 3
Noise Justification: The article provides relevant information about the changes in leadership at Kingfisher, including the departure of the chair of the board and the appointment of a new chair. It also includes details about the company’s financial performance. However, the article contains some repetitive information and veers off-topic towards the end with a mention of Primark’s ecommerce strategy.
Financial Relevance: Yes
Financial Markets Impacted: Kingfisher
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the announcement of a change in leadership at Kingfisher, a financial company. There is no mention of any extreme event or its impact.

Reported publicly: www.retailgazette.co.uk