Value retailer B&M has announced the appointment of Oliver Tant as a Non-Executive Director to its Board.

From 1 November 2022, Oliver will also join the Audit & Risk and Nomination Committees, while at the conclusion of the Company’s AGM in July 2023, it is intended that he will succeed Ron McMillan as the Chair of the Audit & Risk Committee. Ron will by then have served over nine years as a Non-Executive Director and accordingly will be retiring from the Board.

Oliver Tant was Chief Financial Officer of FTSE 30 global consumer and international tobacco company Imperial Brands PLC from 2013 to 2021. He is currently a Non-Executive Director and Audit Committee Chair designate of Redrow plc, as well as working with Brookfield Asset Management.

For the last four years Ron McMillan has also held the role of Senior Independent Director. A separate announcement will be made in due course in relation to the succession plan for this role.

Peter Bamford, Chairman, said: “I am delighted that Oliver has agreed to join the Board of B&M. His previous roles at Imperial Brands and KPMG give the combined experience of a Big Four audit partner with eight years as CFO of a FTSE 100 business. I am sure that he will add a great deal of value both as a Non-Executive Director and in his future role as Audit & Risk Committee Chair.

“Ron has been an outstanding Chair of the Audit & Risk Committee and has played a critical role in the successful transition of B&M from IPO in 2014 to a FTSE 100 company. However, it is now right that we plan for his succession. On behalf of the Board, I would like to thank Ron for his service to B&M and look forward to working with him over the remaining period of his directorship.”