B&M interim chief finance officer Helen Cowing has stepped down, with the variety discounter’s group finance controller Peter Waterhouse stepping into the role.
Waterhouse has been appointed to the interim role with immediate effect.
B&M said Waterhouse had been a key member of the B&M finance team since joining in 2013. He became group financial controller in 2020.
Cowing had been in the interim role since November, when she took over after B&M’s then finance chief Mike Schmidt stepped down.
The retailer has also appointed Jennifer Lawrence as group people director and Peter Pritchard as a non-executive director.
Lawrence has held senior leadership roles at Boots Opticians, Costcutter and most recently as executive people and transformation director at Card Factory. She brings more than 25 years of human resources experience to B&M. She will lead a new group HR function bringing together teams across B&M UK, B&M France and Heron Foods.
Pritchard was CEO of Pets at Home from 2018 to 2022. B&M said he brought 40 years of retail industry experience to the company, also including prior roles at Asda and Wilko.
The appointments are the latest in a string of leadership changes at B&M as it tries to get back on track after issuing a series of profit warnings amid falling like-for-like sales. The retailer has been reviving its store proposition in a ‘back to basics’ plan to improve availability of best-selling lines.
“It’s fantastic to have Jennifer join B&M in this new expanded role,” said Tjeerd Jegen, who took over as B&M CEO last June.
“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,” Jegen added. “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.”
B&M chair Tiffany Hall said of Pritchard’s appointment: “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 said: “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.”
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