REG - B&M European - Appointment of Tjeerd Jegen as CEO

B&M European Value Retail SAAnnouncement

15/05/2025 07:00

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RNS Number : 7335I  B&M European Value Retail S.A.  15 May 2025

 

 

 

 

15 May 2025

B&M European Value Retail S.A

3, rue Gabriel Lippmann, L-5365 Munsbach,

Luxembourg.

(the "Company")

B&M appoints Tjeerd Jegen as Chief Executive Officer

 

 

Following a comprehensive executive search process, B&M European Value
Retail S.A, the UK's leading variety goods retailer, is pleased to announce
the appointment of Tjeerd Jegen as Chief Executive Officer. Tjeerd will take
over from Mike Schmidt, currently interim Chief Executive Officer on 16th June
2025.

 

Tjeerd brings broad international retail experience 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"

 

Tjeerd Jegen said:

"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"

 

Enquiries

 

B&M European Value Retail S.A.

For further information please contact: +44 (0) 151 728 5400 Ext. 6363

Alexander Simpson, Group General Counsel

Dave McCarthy, Head of Investor Relations, Investor.relations@bandmretail.com

 

Media

For media please contact:

Sam Cartwright, H-advisors, sam.cartwright@h-advisors.global
(mailto:sam.cartwright@h-advisors.global) +44 (0) 7827 254 561

Jonathan Cook, H-advisors, jonathan.cook@h-advisors.global
(mailto:jonathan.cook@h-advisors.global)  +44 (0) 7730 777 865

 

About B&M European Value Retail S.A.

B&M European Value Retail S.A. is a variety retailer with 777 stores in
the UK operating under the "B&M" brand, 343 stores under the "Heron
Foods" and "B&M Express" brands, and 135 stores in France also operating
under the "B&M" brand as at 29 March 2025.

The B&M Group was founded in 1978 and listed on the London Stock Exchange
in June 2014. For more information, please visit www.bandmretail.com
(http://www.bandmretail.com) .

 

Notes for Editors

 

1.   Tjeerd Jegen brings over 25 years of international retail experience .
He began his career at Ahold Delhaize, gaining experience across food retail
operations in the Netherlands and Central Europe and subsequently worked as
CEO at Metro Group in Romania. He held senior leadership roles at Tesco in
Thailand and Malaysia then led the Supermarkets division of Woolworth
Australia, delivering key innovations in online retail, private label, and
fresh food supply chains. In 2015, Tjeerd became CEO of HEMA, the Dutch value
variety chain, where he led international expansion. More recently, he served
as CEO of Takko Fashion, a leading discount fashion retailer and subsequently
CEO of Accell Group, Europe's largest e-bike manufacturer.

 

2.   Tjeerd Jegen's remuneration and benefits will be consistent with the
B&M Remuneration Policy approved at the AGM in July 2024 and will be
disclosed in the 2025 Annual Report and Accounts.  The main elements of his
remuneration are as detailed below:

 

1.1  a base salary of £928,000, per annum;

 

1.2  a cash allowance in lieu of pension of 3% of salary less employer's
National Insurance contributions ("NICs"), in line with the wider workforce
plus other benefits and international relocation support in line with the
B&M Remuneration Policy;

 

1.3  a maximum annual bonus of 250% of his base salary, with 50% of any bonus
earned deferred into shares for three years (subject to interaction with
shareholding guidelines);

 

1.4  a maximum LTIP of 250 % of his base salary.

 

3.   B&M has applied for the necessary UK Visa and related work permits.

 

4.   Tjeerd is also the incoming Non Executive Chair of Accell Group, an
unquoted private company where he was formerly CEO.

 

This announcement is made pursuant to UK Listing Rule 6.4.6 R and contains
information relevant to UK Listing Rule 6.4.8R(1). The Company confirms that
there is no information to be disclosed regarding paragraphs (2) to (6) of
Listing Rule 6.4.8R.

 

 

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