B&Q parent firm's CEO sees pay slashed by almost £4m amid profit hit

Thierry Garnier, the chief executive of Kingfisher, the group that owns B&Q and Screwfix, saw his pay cut by nearly £4m as the company's sales and profits suffered a significant blow in its latest financial year.

Garnier received almost £2.3m for the 12 months ending 31 January, 2025, a decrease from the nearly £6m he earned the previous year, as reported by City AM.

His pay package did not include the near-£4m 'delivering value incentive' bonus he was awarded the year before.

However, his base salary rose from £875,500 to £911,900, and his annual bonus increased from £364,900 to £804,900.

He also received £404,200 through a performance share plan.

Last year, City AM reported that the bonuses of the CEO and CFO of B&Q's parent company were also reduced after Kingfisher's profit dropped by almost 40 per cent in its previous 12 months.

The annual report follows a decline in sales for the parent company of B&Q and Screwfix for the year ending 31 January, 2025.

Kingfisher reported a 1.5 per cent drop in sales to £12.78bn, largely due to a 6.2 per cent decrease in sales in France, while the UK and Poland remained stable.

Operating profit at B&Q's parent company also fell 29.7 per cent to £407m, and its pre-tax profit was reduced by 35.4 per cent to £307m.