B&M has found its new permanent finance chief in Atheeq Akbar, following the resignation of of interim CFO Helen Cowling in April 2026. The role will be Akbar’s first as chief financial officer.
But the discounter will have to wait until February 2027 to get its new finance chief, with group finance controller Peter Waterhouse retaining his interim CFO role until then.
Akbar will land at B&M amid a struggle to return the group to like-for-like sales growth under CEO Tjeerd Jegen’s Back to B&M Basics turnaround plan, which he kicked off in late 2025.
Currently Asda’s vice president of commercial finance, Akbar previously led Morrisons’ retail and manufacturing finance functions, before being appointed as a finance director in 2021.
Jegen said finding the right individual had been a key priority in recent months, and spoke of an “extensive search”.
The group’s last permanent CFO, Mike Schmidt, resigned in late 2025, after a £7m accounting error forced the company to downgrade its 2026 profit guidance.
The resignation of interim CFO Helen Cowling in April 2026 left Waterhouse to step in as the group’s finance lead, a duty he will retain until Akbar joins.
Jegen said Akbar’s “strong commercial background in UK retail will be a great asset” as the company “deepens” its financial foundations.
”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 added that B&M had a “considerable” role to play in the development of the UK value retail market.
”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.”
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