B&M has appointed Tjeerd Jegen as its new chief executive, who has a “strong track record of driving growth and transformation”.

Jegen will take over the post from Mike Schmidt, the retailer’s chief financial officer who has seen serving as interim CEO, from 16 June.

He brings over 25 years of retail experience and previously worked held leadership roles at Ahold Delhaize, Metro, Tesco, Woolworths, Hema and Takko Fashion.

B&M chair Tiffany Hall said: “[Jegen] is a highly talented international business leader with in-depth retail experience gained in Europe, Asia and Australasia across the grocery, general merchandise and value sectors.

“In what was a rigorous recruitment process, Tjeerd stood out from a strong list of candidates due to his strategic insight, customer-centric approach, and strong track record of driving growth and transformation.”

The incoming chief executive will be tasked with turning around B&M after it wiped more than £25m off its profit forecast last year following a challenging trading period in its UK business.

Jegen added: “I’m honoured to join one of Europe’s leading value retailers at such a pivotal time.

“Value retail plays a crucial role in the lives of millions of consumers, and I’m passionate about working with the team to drive growth through great products, operational excellence, and a strong customer focus.

“I look forward to working with the team to build on the company’s strong foundations and take it to the next level.”

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