18th Aug 2022 08:23
(Alliance News) - B&M European Value Retail SA on Thursday appointed the former finance head of Imperial Brands PLC, Oliver Tant, as a non-director, with effect from November 1.
Tant will also join the Audit & Risk and Nomination committees of the variety goods retailer.
It is expected that at B&M's annual general meeting in July 2023, Tant will succeed Ron McMillan as chair of the Audit & Risk committee. By then, McMillan would have served over nine years as a non-executive director and will retire from the board.
Further, McMillan has held the role of senior independent director for the last four years. "A separate announcement will be made in due course in relation to the succession plan for this role," B&M said.
Tant is currently a non-executive director & Audit committee chair designate of Redrow PLC, an Ewloe, Wales-based housebuilder.
Prior to this, he was chief financial officer of tobacco company Imperial from 2013 to 2021. "Tant had responsibility for the full range of finance functions along with the corporate development, legal, science, IT and procurement teams," B&M said about his time at Imperial.
Prior to joining Imperial, Tant spent over 30 years at KPMG International Ltd. He was a partner from 1994 and from 2005 he co-lead its Financial Advisory business. From 2009 to 2012 Tant was UK head of audit.
B&M added that Tant's appointment requires shareholder approval at a general meeting. Accordingly, an ordinary general meeting will be convened during October 2022.
Chair Peter Bamford 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."
B&M shares were down 0.1% to 422.70 pence each in London early Thursday.
By Sophie Rose; [email protected]
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