Board Changes

RNS Number : 7035E

B&M European Value Retail S.A.

03 March 2020

 

03 March 2020  

B&M European Value Retail S.A. 


Board Appointment and Retirement

B&M European Value Retail S.A. (the "Company") announces that Alex Russo is to be appointed as an Executive Director and Chief Financial Officer ("CFO") of the Company. He will join the Company on a mutually agreed start date which will be no later than June 2021.

Alex Russo has had a successful career with UK and International retailers including Asda, Tesco, and Kingfisher. He is currently the Group Finance Director of UK retailer Wilko, having previously spent five years as an Executive Director and CFO at Asda.

Alex will succeed Paul McDonald as the CFO following Paul's decision to retire from the business in 2021 after more than 10 years in the role to pursue a career in non-executive roles. Paul will remain in post until Alex Russo has joined and for a handover period with Alex before stepping down. 

Peter Bamford, Chairman, said:

 "I am delighted that Alex Russo has agreed to join the Board of B&M. His previous roles with leading retail businesses in the UK and internationally brings a valuable level of experience to the Board as our business continues to grow at a significant rate. Paul McDonald has done an excellent job in that role and we wish him well for the future."

Simon Arora, CEO said:

"I am delighted to have found a successor to the CFO with the background experience and skills which Alex has from his time with retailers operating in International as well as UK markets. I would like to thank Paul for the contribution he has made for over a decade as B&M's CFO both while it was in private ownership and since the flotation in 2014. The business has grown at a tremendous rate over that period and he has played a key role as part of the management team in relation to that success." 

The Company makes this announcement in accordance with LR 9.6.11R of the Listing Rules. There are no other matters to be disclosed under LR9.6.13R in relation to the appointment of Alex Russo.

Enquiries

B&M European Value Retail S.A.

For further information please contact [phone]

Simon Arora, Chief Executive Officer

Steve Webb, Investor Relations Director

[e-mail]

Media

For media please contact [phone]

Maitland 


Daniel Yea

[e-mail]

 

END

 

 

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