DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

UK Discount Chain B&M Chair Peter Bamford To Retire In 2024

By Reuters
Share this article
UK Discount Chain B&M Chair Peter Bamford To Retire In 2024

British discount chain B&M has announced that its chairperson Peter Bamford will retire in 2024, after nearly six years in the role.

The FTSE 100 group, which sells everything from toys to frozen food and garden furniture, said the recruitment process for a successor will commence with immediate effect, and that Bamford's retirement date has not been set yet

Commenting on his retirement, Bamford said, "It has been a privilege to chair B&M over the last 6 years. I have thoroughly enjoyed working with both current CEO Alex Russo and his predecessor Simon Arora, as well the rest of my board colleagues.

"The business has laid strong foundations and is trading well. B&M has a high-class leadership team in place, and we have managed succession to all the key board positions over the last two years. While I will miss B&M when I step down as chair, I feel that now is a good time for the company to commence the process of transition to a new chair."

'A Great Business Partner'

Alex Russo, CEO of B&M added, "Peter has been a great business partner since I joined the business in 2020. I have thoroughly enjoyed working with him, both personally and professionally. His unrelenting drive in reinforcing the B&M culture at board level has been of the first order. We wish him all the best in his next personal project."

ADVERTISEMENT

Earlier this month, B&M maintained its full-year profit outlook as it reported a 5.0% rise in revenue over the Christmas quarter, even as its growth slowed.

The company said in the 14 weeks to 30 December, its fiscal third quarter, like-for-like revenue growth in the main B&M UK business was 1.2%.

Read More: B&M European Value Retail Q3 Results – What The Analysts Said

News by Reuters, additional reporting by ESM.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.