Finance
UK Retail Discounter B&M’s Interim CFO Exits After Less Than Five Months in Role
Published by Global Banking & Finance Review®
Posted on April 10, 2026
1 min readLast updated: April 10, 2026
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B&M’s interim CFO Helen Cowing, who joined in late 2025, has departed after less than five months. Financial controller Peter Waterhouse, a long‑time B&M finance veteran with a PhD and ICAEW fellowship, steps in as her successor. Shares dipped ~3.8%.
B&M’s Interim CFO Helen Cowing Departs; Peter Waterhouse Named Successor
Leadership Changes in B&M’s Finance Department
Helen Cowing’s Departure as Interim CFO
April 10 (Reuters) - British discount retailer B&M's interim CFO Helen Cowing has exited the firm after less than 5 months in the role, the company said, and would be replaced by Peter Waterhouse, the firm's financial controller.
Shares of the company fell 3.8% to 176 pence.
Background of Recent Finance Leadership Changes
Previous Finance Chief’s Exit and Accounting Error
This marks the second change in finance leadership at B&M, after its previous finance chief stepped down following the disclosure of an accounting error that triggered a profit warning.
Peter Waterhouse’s Experience and Appointment
Waterhouse’s Career at B&M and Prior Roles
Waterhouse has been a key member of B&M's finance team since joining in 2013 and became group financial controller in 2020. He also trained and qualified with audit firm PricewaterhouseCoopers before working in senior finance roles at Johnson Service Group and Logica prior to joining B&M.
(Reporting by Yamini Kalia in Bengaluru; Editing by Nivedita Bhattacharjee)
Key Takeaways
- •Helen Cowing served only briefly—appointed as interim CFO in late 2025 and is already exiting.
- •Peter Waterhouse brings deep institutional finance experience—B&M finance team since 2013, Group Financial Controller since 2020, ICAEW fellow with PhD in Mathematics (people.equilar.com).
- •This is the second finance leadership upheaval at B&M in recent months, following a CFO exit tied to a £7 million accounting error and profit warning (theguardian.com).
References
Frequently Asked Questions about UK retail discounter B&M’s interim CFO exits after less than five months in role
1Who has replaced Helen Cowing as B&M's CFO?
Peter Waterhouse, B&M's financial controller, has replaced Helen Cowing as CFO.
2How long did Helen Cowing serve as B&M's interim CFO?
Helen Cowing served as B&M's interim CFO for less than five months.
3What triggered the recent changes in B&M's finance leadership?
An accounting error and resulting profit warning prompted the recent finance leadership changes at B&M.
4How did B&M's shares react to the announcement?
B&M's shares fell 3.8% to 176 pence following the CFO exit announcement.
5What is Peter Waterhouse's background at B&M?
Peter Waterhouse joined B&M in 2013, became group financial controller in 2020, and previously worked with PricewaterhouseCoopers, Johnson Service Group, and Logica.
