B&M (LSE:BME) has appointed Asda executive Atheeq Akbar as its next Chief Financial Officer, strengthening its senior leadership team as the discount retailer continues efforts to enhance performance across its UK operations.
Akbar is scheduled to join the company in February 2027 and will succeed interim CFO Pete Waterhouse. He currently serves as Vice President of Commercial Finance at Asda and brings extensive experience from senior finance and commercial roles within the retail sector.
The appointment comes as Chief Executive Tjeerd Jegen advances a turnaround programme introduced in October to improve operational performance and reinforce B&M’s competitive position. The retailer has faced increasing pressure from supermarket loyalty schemes and ongoing constraints on consumer spending, particularly among lower-income households.
Commenting on the appointment, Jegen said: “(Akbar’s) strong commercial background in UK retail will be a great asset as we bring about change to deepen the financial foundations of our business.”
Before joining Asda, Akbar held senior positions at several major organisations, including Morrisons, Tesco and Etihad Airways, providing him with broad experience across retail, finance and commercial strategy.
The announcement follows B&M’s recent full-year results, where the company reported pre-tax profit ahead of market expectations. Management said earlier this month that its turnaround initiatives were beginning to gain momentum and expressed confidence in its ability to manage higher operating costs linked to recent geopolitical developments.
With a permanent finance leader now identified, B&M aims to continue strengthening its financial discipline, operational efficiency and long-term growth prospects as it executes its transformation strategy.
More about B&M
B&M is one of the UK’s leading discount retailers, operating a nationwide network of value-focused stores offering groceries, household goods, general merchandise and seasonal products. The company serves value-conscious consumers across the UK and France and focuses on delivering competitive pricing through a high-volume, low-cost operating model. As part of its ongoing strategy, B&M is investing in operational improvements and leadership enhancements to support sustainable long-term growth.
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