B&M confirms CEO departure date
The takeover was first announced on 31 May 2022, after Arora had announced his intention to step down as CEO on 22 April 2022.
B&M has confirmed that Alex Russo will succeed Simon Arora as group chief executive officer on 26 September, the commencement of the second half of its financial year.
The takeover was first announced on 31 May 2022, after Arora had announced his intention to step down as CEO on 22 April 2022. He will retire as CEO but continue to serve the board as an executive director until the end of his notice period in April 2023.
Mike Schmidt, who was previously announced as the successor to Alex Russo in the role of CFO, will join the business on 17 October 2022.
It has also announced that Tiffany Hall, who is currently a non-executive director and chair of the Remuneration Committee, will become senior independent director.
B&M operated 21 stores when it was acquired by brothers Simon and Bobby Arora in December 2004, and has since grown into a group of over 1,100 stores across the UK and France and is now a constituent of the FTSE 100 index.
