Last checked at 23 Jan 2024 12:00
23 January 2024
B&M European Value Retail S.A.
B&M plans Chairman Succession
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 ("EU MAR") AND ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM (THE "UK") BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").
Peter Bamford, Chairman of B&M since March 2018, has informed the Board of his intention to retire during this calendar year. An executive search firm has been appointed and a recruitment process for a new Chair will commence with immediate effect led by Tiffany Hall, Senior Independent Director. A retirement date has not yet been set and, in the meantime, Peter will continue to serve as Chairman of B&M and ensure an orderly handover to his successor in due course.
Peter 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.
Alex Russo, CEO, said '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.'
Enquiries
B&M European Value Retail S.A.
For further information please contact +44 (0) 151 728 5400
Alex Russo, Chief Executive Officer
Mike Schmidt, Chief Financial Officer
Dave McCarthy, Investor Relations
investor.relations@bandmretail.com
Media
For media please contact +44 (0) 207 379 5151
Maitland
Sam Cartwright
bmstores-maitland@maitland.co.uk