B&M names former KPMG-head as non-executive director

B&M has appointed Oliver Tant as a non-executive director, effective 1 November 2022, and he will succeed Ron McMillan as chair of the Audit and Risk Committee at the conclusion of the Company’s AGM in July 2023.

The appointment is subject to shareholder approval, and by this time, McMillan will have served over nine years as a non-executive director and, accordingly, will be retiring from the board.

Previously, Tant was chief financial officer (CFO) of FTSE 30 global consumer and international tobacco company, Imperial Brands PLC, from 2013 to 2021. He had responsibility for the full range of finance functions along with the corporate development, legal, science, IT and procurement teams.

Prior to joining Imperial, Tant spent over 30 years with KPMG where he was a partner from 1994, covering audit, transaction and advisory services. From 2005, he was co-lead of the Financial Advisory business, as well as UK head of Audit from 2009 to 2012, and he served on KPMG’s international executive committee for four years.

Tant is currently a non-executive director and Audit Committee chair designate of Redrow plc, and he is also currently working with Brookfield Asset Management where he is providing financial consulting services to their portfolio company Modulaire Group.

Peter Bamford, B&M chairman, said: “I am delighted that Oliver has agreed to join the board of B&M. His previous roles at Imperial Brands and KPMG give the combined experience of a Big Four audit partner with eight years as CFO of a FTSE 100 business.

“Ron has been an outstanding chair of the Audit and Risk Committee and has played a critical role in the successful transition of B&M from IPO in 2014 to a FTSE 100 company. However, it is now right that we plan for his succession.”

He added: “On behalf of the board, I would like to thank Ron for his service to B&M and look forward to working with him over the remaining period of his directorship.”