B&M has announced it has appointed a new chief financial officer, starting the role from early next year.
The discounter has announced current Asda vice-president of commercial finance Atheeq Akbar as its new CFO.
Prior to joining Asda, Akbar led the retail and manufacturing finance functions at Morrisons before being appointed as a finance director in 2021. He has also held senior finance roles at Tesco and brings international experience of finance leadership from Etihad Airways.
A chartered accountant by profession, Akbar began his career at Deloitte and is a member of the ICAEW.
B&M chief executive Tjeerd Jegen 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.”
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.”
B&M’s interim CFO Helen Cowing stepped down from the role after just five months in April, and was replaced by group financial controller Peter Waterhouse on an interim basis.
Cowing took over following the resignation of finance chief Mike Schmidt in October last year.
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