Appointment of Chief Financial Officer

B&M European Value Retail PLC

24 June 2026

 

24 June 2026                                  

B&M European Value Retail plc

Appointment of Chief Financial Officer

B&M European Value Retail plc (the 'Company'), the UK's leading variety goods value retailer, announces it has successfully concluded its search for a Chief Financial Officer and is pleased to appoint Atheeq Akbar to the role, with effect from February 2027.

Atheeq brings a wealth of UK retail experience to B&M. He will join B&M from ASDA, where he is currently Vice President of Commercial Finance. Prior to ASDA, Atheeq led the retail and manufacturing finance functions at Morrisons before being appointed as a Finance Director in 2021. Atheeq has also held senior finance roles at Tesco and brings international experience of finance leadership from Etihad Airways. A Chartered Accountant by profession, Atheeq began his career at Deloitte and is a member of the ICAEW.

Announcing Atheeq's appointment, Tjeerd Jegen, Chief Executive Officer, said:

"Securing the right individual as Chief Financial Officer has been a key priority for me in recent months and I am excited that after an extensive search, we can announce Atheeq in this role. His strong commercial background in UK retail will be a great asset as we bring about change to deepen the financial foundations of our business. I look forward to partnering with Atheeq and would like to thank Pete Waterhouse for his continued leadership as Interim CFO in the meantime as we bring about a seamless transition in this important role."

Tiffany Hall, Chair, commented:

"I am delighted to welcome Atheeq as our new Chief Financial Officer and as an Executive Director of our Board. I have every confidence that Atheeq's blend of commercial and retail experience will be a strong complement to Tjeerd as we execute on our Back to B&M Basics plan and drive future growth."

Commenting on his appointment, Atheeq Akbar said:

"The opportunity for UK value retail is considerable, as is the leadership role B&M can continue to play in its development. I am excited to be joining the Company at such an important time and I look forward to working with Tjeerd and the Board to deliver B&M at its full potential."

An exact starting date for Atheeq will be announced in due course.

This announcement is made pursuant to UK Listing Rule 6.4.6R. The Company confirms that there is no additional information to be disclosed pursuant to Listing Rule 6.4.8R.

Enquiries 

B&M European Value Retail plc

For further information, please contact [phone] 

Tjeerd Jegen, Chief Executive Officer  

Andrew Orchard, Head of Investor Relations 

[e-mail] 

Media

For media please contact:

Sam Cartwright, H-advisors, [e-mail] [phone]

Jonathan Cook, H-advisors, [e-mail] [phone] 

About B&M European Value Retail plc

B&M European Value Retail plc is a variety retailer with 799 stores in the UK operating under the 'B&M' brand, 342 stores under the 'Heron Foods' and 'B&M Express' brands, and 147 stores in France also operating under the 'B&M' brand as at 29 March 2026.

The B&M Group was founded in 1978 and listed on the London Stock Exchange in June 2014. For more information, please visit www.bandmretail.com.

Notes for Editors

1.   Atheeq's remuneration and benefits will be consistent with the B&M Remuneration Policy approved at the AGM in July 2024 and will be disclosed in the Company's Annual Report and Accounts published in 2027. The main elements of his remuneration are as detailed below:

1.1  a base salary of £525,000, per annum;

1.2  a cash allowance in lieu of pension of 3% of salary less employer's National Insurance contributions ('NICs'), in line with the wider workforce plus other benefits, buy-out awards and accommodation support in line with the B&M Remuneration Policy;

1.3  a maximum annual bonus of 175% of his base salary, with 50% of any bonus earned deferred into shares for three years (subject to interaction with shareholding guidelines);

1.4  a maximum LTIP of 175% of his base salary.

 

END