Discount retailer B&M has announced the appointment of Alex Russo as its new chief financial officer and executive director.
Russo is currently the CFO of Wilko, having previously spent five years as an executive director and CFO at Asda. He has also held the position as director at Boots, Tesco and Kingfisher.
Russo succeeds Paul McDonald, following his decision to retire from the business in 2021 after more than 10 years in the role to pursue a career in non-executive roles.
McDonald will remain in post until Alex Russo has joined and for a handover period with Russo before stepping down.
Chairman Peter Bamford said he is “delighted” that Russo has agreed to join the board at B&M.
He said: “His previous roles with leading retail businesses in the UK and internationally brings a valuable level of experience to the Board as our business continues to grow at a significant rate. Paul McDonald has done an excellent job in that role and we wish him well for the future.”
Simon Arora, CEO, added: “I am delighted to have found a successor to the CFO with the background experience and skills which Alex has from his time with retailers operating in International as well as UK markets.
“I would like to thank Paul for the contribution he has made for over a decade as B&M’s CFO both while it was in private ownership and since the flotation in 2014. The business has grown at a tremendous rate over that period and he has played a key role as part of the management team in relation to that success.”