The parent company of Heron Foods, B&M, has appointed Mike Schmidt as an executive director and chief financial officer.
Schmidt will succeed Alex Russo as group CFO, who will be stepping up to group chief executive officer, as previously announced on 31 May 2022.
He will join the group, which owns convenience retailer Heron Foods, on a mutually agreed date, which has yet to be announced, but is expected to be no later than 3 January 2023.
READ MORE: UK sales soar for B&M Group’s convenience business Heron Foods
Schmidt currently holds the position of executive director and group CFO DFS Furniture, having been in that role for the last three years.
He also spent 13 years in corporate finance roles at leading investment banks including Citi and UBS.
“I am delighted that Mike has agreed to join B&M as group CFO,” chairman Peter Bamford said.
“His previous roles in both retail and investment banking will bring valuable experience and insight to the Board alongside the continuity provided by Alex Russo’s appointment as future CEO. I look forward to working closely with Mike over the coming years.”
Schmidt added: “I am excited by the opportunity to join B&M. It is a business that has experienced a period of rapid growth over recent years and has a clearly defined growth strategy for the future. I am very much looking forward to contributing to its ongoing success.”
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