B&M appoints Asda executive Atheeq Akbar as CFO
British discount retailer B&M (LON:BMEB) announced that Atheeq Akbar, currently vice president of commercial finance at Asda, will assume the role of chief financial officer. Akbar is scheduled to join B&M in February 2027, succeeding interim CFO Pete Waterhouse.
Akbar brings a strong commercial finance background, having previously held senior finance positions at Morrisons, Tesco (LON:TSCO), and Etihad Airways. His experience in UK retail is highlighted as a key asset for deepening the financial foundations of B&M.
The appointment aligns with the strategic direction set by B&M CEO Tjeerd Jegen, who is executing a turnaround plan launched in October to counter competition from supermarket loyalty programmes and pressures on lower‑income households. Earlier in June, B&M reported that it exceeded its annual pretax profit expectations, indicating that the turnaround efforts are gaining traction. The company also expressed confidence in managing higher cost pressures linked to the ongoing Iran war.
This leadership change underscores B&M’s focus on strengthening its financial management as it navigates a competitive retail environment and cost challenges.