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(Alliance News) - B&M European Value Retail SA on Tuesday said it has appointed the current group finance director of rival UK retailer Wilko Retail Ltd to be its new chief financial officer.
Alex Russo will be appointed to value retailing chain B&M as an executive director and as CFO by June 2021 at the latest. He will succeed Paul McDonald, who is set to retire in 2021 after more than a decade in the role so as to "pursue a career in non-executive roles".
McDonald is to remain in his post until Russo joins, as well as "for a handover period" before he steps down.
Other than Wilko, Russo has also had roles with retailers such as Kingfisher PLC and Tesco PLC, including five years as CFO and executive director at Asda Stores Ltd.
Chair Peter Bamford said: "I am delighted that Alex Russo has agreed to join the board of B&M. 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."
Shares in B&M were up 1.5% at 334.90 pence in London on Tuesday morning.
By Anna Farley; annafarley@alliancenews.com
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