B&M interim CFO steps down; adds former Pets at Home CEO to board

B&M European Value Retail SA on Friday announced a new interim finance chief, as well as the addition of a former FTSE 250 chief executive to its board.

Shares in the Luxembourg-based value retailer were 2.8% lower at 177.87 pence on Friday morning in London.

B&M said Interim Chief Financial Officer Helen Cowing has stepped down from her role, having only been in the position since December 1. Cowing, formerly interim CFO at Mobico Group PLC, had replaced Mike Schmidt, who stepped down in the wake of the accounting error.

The company said Group Financial Controller Peter Waterhouse has been appointed as interim CFO with immediate effect.

B&M noted that Waterhouse has been financial controller since 2020, before which he worked in senior finance roles at Johnson Service Group and Logica.

The company said Waterhouse will continue as interim CFO until a permanent appointment is made.

B&M also reported the addition of former Pets At Home Group PLC chief executive Peter Pritchard as a non-executive director, with this also taking effect on Friday.

Pritchard held the CEO position at the operator of pet care centres and veterinary practices from 2018 until 2022. B&M noted that Pritchard brings with him 40 years of retail industry experience, with him holding prior roles at Asda and Wilko.

B&M also noted his ‘considerable’ board experience, having served as non-executive director of AO World PLC. It added that he remains a senior independent director there, as well as chair of the remuneration committee.

‘We are delighted to welcome Peter to the B&M board. Peter brings deep retail experience, which will be a great asset to the board as we support [Chief Executive Officer] Tjeerd [Jegen] and his leadership team in executing our Back to B&M Basics plan and driving future growth,’ said B&M Chair Tiffany Hall.

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