B&M appoints ex-Tesco exec as new CEO
The retailer expects its group adjusted EBITDA to be above the midpoint of its £605m to £625m guidance range
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B&M has announced the appointment of Tjeerd Jegen as its new chief executive officer.
The value retailer revealed that Jegen will take over from current interim CEO Mike Schmidt, on 16 June 2025.
Jegen joins the company having worked in leadership roles at Ahold Delhaize, Metro, Tesco, Woolworths, HEMA and Takko Fashion over 25 years.
Tiffany Hall, chair, said: “I am delighted to welcome Tjeerd to B&M. He is a highly talented international business leader with in-depth retail experience gained in Europe, Asia and Australasia across the grocery, general merchandise and value sectors.
“In what was a rigorous recruitment process, Tjeerd stood out from a strong list of candidates due to his strategic insight, customer-centric approach, and strong track record of driving growth and transformation.”
Jegen added: “I’m honoured to join one of Europe’s leading value retailers at such a pivotal time. Value retail plays a crucial role in the lives of millions of consumers, and I’m passionate about working with the team to drive growth through great products, operational excellence, and a strong customer focus. I look forward to working with the team to build on the company’s strong foundations and take it to the next level.”
This appointment comes after the company revealed that it is aiming to open 45 new stores in the UK in 2025 despite the fact it saw its UK like-for-like sales drop 3.1% to £4.5bn in the year ended 29 March 2025.
Alongside this, the discount retailer stated that its UK like-for-like sales fell 2.1% in the final 12 weeks of the period.
The retailer expects its group adjusted EBITDA to be above the midpoint of its £605m to £625m guidance range.
