B&M appoints interim chief executive

B&M has appointed Mike Schmidt as its interim chief executive following the retirement of Alex Russo.

The variety retailer announced back in February that Russo would be leaving after working with the business since 2020. Prior to that, he held senior roles at Walmart, Tesco, Kingfisher and Boots.

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Schmidt joined B&M in 2022 from sofa retailer DFS where he was also chief financial officer. Earlier in his career, he worked with UBS and Nomura.

As interim chief executive, he will will also retain his chief financial officer responsibilities., 

B&M said it is continuing to make good progress  in its search for a permanent successor to Russo.

Earlier this month, the retailer announced that group revenue increased by 3.7% to £5.6 billion in the 52 weeks to 29 March.  

 

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