(Alliance News) - B&M European Value Retail SA on Tuesday said it started a recruitment process for a new chair as Peter Bamford will retire during this year.
The Luxembourg-headquartered variety goods retailer said Bamford, chair since March 2018, will ensure an orderly handover.
Bamford said: "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."
Two weeks ago, the company said it was on track to open 76 new stores in the current financial year ending March 30, including 45 in the UK, 11 in France, and 20 in its Heron Foods arm. B&M currently has 717 stores in the UK, 122 in France, and 331 under the Heron Foods and B&M Express brands.
B&M European Value Retail shares were 0.8% lower at 520.00 pence each on Tuesday afternoon in London.
By Tom Budszus, Alliance News slot editor
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