B&M’s interim chief financial officer Helen Cowing has stepped down after spending less than five months in the role.
She has been replaced by group financial controller Peter Waterhouse, who will serve as interim CFO with immediate effect until a permanent appointment is made. Waterhouse has been part of the B&M finance team since joining the business in 2013.
Cowing had only taken up the interim role in December, having succeeded Mike Schmidt following his departure in the wake of an accounting error.
The latest leadership change comes as B&M looks to steady performance after warning on profit earlier this year.
In January, the retailer reported a 2.9 per cent rise in third quarter revenue, but said investment aimed at strengthening the business would weigh on short-term profitability.
Alongside the finance reshuffle, B&M has appointed former Pets at Home chief executive Peter Pritchard as a non-executive director.
Pritchard brings 40 years of retail experience to the board, having previously held senior roles at Asda and Wilko. He is currently a non-executive director at AO World.
B&M chair Tiffany Hall said: “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 Tjeerd and his leadership team in executing our Back to B&M Basics plan and driving future growth.”
Pritchard added: “I am excited to be joining the board of B&M at an important point in its development. B&M is a highly differentiated business with a strong value-led proposition, disciplined operating model and a clear opportunity to drive further growth.”
B&M has also announced that Jennifer Lawrence will join the business as group people director on 5 May in an expanded role.
Lawrence joins from Card Factory, where she most recently served as chief people and transformation officer. She has also held leadership positions at Boots Opticians and Costcutter.
Chief executive Tjeerd Jegen said: “It’s fantastic to have Jennifer join B&M in this new expanded role. Alongside our customers, our people are vital stakeholders in our business. Jennifer’s appointment will help us serve them better while deepening the diversity of talent we are building across our leadership.
“I’m equally pleased we can draw on Peter’s considerable experience and expertise as our interim CFO. I look forward to working closely with him in his new role. I would like to thank Helen for leading our finance team on an interim basis in recent months. We wish her well for the future.”
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