(Alliance News) - Kingfisher PLC has hired the chief financial officer of British Land Co PLC to be its own CFO, the two companies said on Monday.

Kingfisher operates do-it-yourself home improvement stores in the UK and France under the Screwfix, B&Q, Castorama, Brico Depot brands. British Land is a commercial property developer. Both are based in London.

Kingfisher said it has hired Bhavesh Mistry to be its new CFO, replacing Bernard Bot, who will step down no earlier than January next year to pursue a non-executive career. Bot's exact start date is still to be set.

British Land noted that Bot has a 12-month notice period, and a date for his departure will be agreed. It said it has started to search for a new CFO.

Before becoming CFO of British Land in 2021, Bot was deputy CFO of grocer Tesco PLC, starting that position in 2018.

Kingfisher said Bot will join its board as an executive director and be based at its head office near Paddington station in London.

Kingfisher shares were up 0.8% to 250.50 pence early Monday in London. British Land shares were up 0.4% at 428.39p.

By Tom Waite, Alliance News editor

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