Liverpool value retail giant B&M hires a new chief executive with a basic salary, not including bonuses, of almost £1m. Tony McDonough reports

Value retail chain B&M has ended its search for a new chief executive with the recruitment of Tjeerd Jegen.

Mr Jegen, who brings more than 25 years international retail experience to the Liverpool-based business, will take over from current interim chief executive Mike Schmidt on June 16.

Mr Schmidt became interim CEO in February this year after Alex Russo stepped down from the role he took on in September 2022. His departure came as the retailer lowered its full-year profits forecast for the second time in a few weeks.

Businesses where Mr Jegen had held senior roles include Ahold Delhaize, Metro, Tesco, Woolworths, HEMA and Takko Fashion.

South Liverpool-based B&M operates more than 1,100 stores in the UK and France and last year saw annual sales hit £5.6bn in the 12 months to March 29, 2025.  However sales in its 750 UK B&M stores were disappointing, falling 3.1%.

“I’m honoured to join one of Europe’s leading value retailers at such a pivotal time,” said Mr Jegen. “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.”

B&M chair Tiffany Hall described Mr Jegen as 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”.

She added: “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.”

The post Retail giant B&M appoints new chief executive  appeared first on Liverpool Business News.