Before joining B&M, Russo was the group finance director at rival homeware retailer Wilko, which collapsed into administration in 2023 under a massive debt pile before B&M bought many of its stores.
Tiffany Hall, chair of B&M, said Russo had 'driven a relentless focus on high operational standards and low costs, enabling the company to provide great products and everyday low prices to our customers whilst generating continued strong cash returns for our shareholders'.
Alex Russo will retire at the end of April after less than three years as B&M's boss and five years since initially joining the company as its chief financial officer.
Russo also held senior financial roles at Asda and Tesco's South Korean subsidiary and worked as a director at B&Q owner Kingfisher and Boots UK.
B&M European Value Retail shares slumped 8.4 per cent to 266.5p on Monday morning following this announcement, making them the FTSE 250 Index's biggest faller.
