Last checked at 14 Nov 2017 07:05
14 November 2017
B&M European Value Retail S.A.
Appointment of new Chairman
B&M European Value Retail S.A. (the "Company") is pleased to announce the appointment of Peter Bamford as Non-Executive Chairman with effect from 1 March 2018. He will succeed Sir Terry Leahy who will retire from the Board on that date after 5 very successful years in the role.
Before taking up the role as Chairman on 1 March 2018, Peter will be appointed initially as a Non-Executive Director of one of the Company's subsidiaries from 1 January 2018.
Peter brings extensive senior and board-level experience in public companies, particularly in consumer and retail businesses. He is Chairman of SuperGroup plc and also Deputy Chairman and Senior Independent Director of Spire Healthcare Group plc. Previously, Peter was Chairman of Six Degrees Holdings Limited from 2011 to 2015 and a Non-executive Director of Rentokil Initial plc from 2006 until 2016. He was also a Director of Vodafone Group plc from 1998 to 2006, where he held senior executive roles, including Chief Marketing Officer, Chief Executive of Northern Europe, Middle East and Africa and Chief Executive of Vodafone UK. Prior to that Peter held senior positions with WH Smith plc including as a Director between 1995 and 1997, Tesco plc and Kingfisher plc.
Over the last 5 years B&M has seen continued strong growth with revenues rising from c.£993m to c.£2,671m, profit before tax rising from c.£83m to c.£204m and the number of stores increasing from 331 to 893. During this period the Group also took its first significant step toward becoming an international retailer with the acquisition it made in Germany in 2014, completed its highly successful IPO in the same year and in 2017 it entered the convenience retail market with the acquisition of Heron Foods.
Sir Terry Leahy, Chairman, said:
"I'm delighted that Peter, with his strong track record and relevant experience, including in the retailing sector, is to be the next Chairman of B&M. It has been a great privilege to have been part of one of the most exciting emerging retail growth stories of the past decade in an industry undergoing profound structural change. In particular, it has been a real pleasure to work with such a talented, innovative management team. The business is very well-positioned for continued growth and success in the future."
Peter Bamford, Chairman Designate, said:
"I'm looking forward to taking on the Chairmanship role at B&M, working alongside the strong Board and executive team and continuing with the growth strategy which has delivered significant shareholder value since IPO. I believe the business has a long runway of further growth ahead for its unique, disruptive model and I'm delighted that I will be so closely involved in the next stage of B&M's development."
Simon Arora, Chief Executive, said:
"I would like to thank Sir Terry warmly on behalf of everyone at B&M for his great contribution and his wise counsel over the last few critically important years in the company's transition into a major force in our industry. He will be much missed and we wish him well for the future."
"Peter is an able, experienced public company Chairman, with a proven personal record of success in consumer and retail. We are delighted he has accepted and I am looking forward to working closely with him."
The Company makes this announcement in accordance with LR 9.6.11R of the Listing Rules. There are no other matters to be disclosed under LR9.6.13R.
Enquiries
B&M European Value Retail S.A.
For further information please contact +44 (0) 151 728 5400
Simon Arora, Chief Executive Officer
Paul McDonald, Chief Financial Officer
Steve Webb, Investor Relations Director
Investor.relations@bandmretail.com
Media
For media please contact +44 (0) 207 379 5151
Maitland
Tom Eckersley
Robbie Hynes
bmstores-maitland@maitland.co.uk