UK-based discounter B&M European Value Retail has appointed Alex Russo as its new chief financial officer and an executive director of the company.
He is to succeed Paul McDonald, who will retire from the company in June 2021 after 10 years in the role.
Russo will assume office 'no later than' June 2021, the retailer said in its statement.
B&M chief executive, Simon Arora, CEO commented, "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."
An Experienced Professional
Russo is an experienced professional who has worked both inside and outside of the UK with several retailers such as Asda, Tesco, and Kingfisher, the company said.
Commenting on the appointment, B&M Chairman, Peter Bamford, 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."
Presently, Russo serves as the group finance director of the UK-based homeware and household goods retailer, Wilko.
Before this, he spent five years at Asda as the chief financial officer and an executive director.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
