UK Discounter B&M Says CEO Arora To Retire Next Year

By Donna Ahern
UK Discounter B&M Says CEO Arora To Retire Next Year

British discount retailer B&M said on Friday CEO Simon Arora plans to retire in 12 months' time after more than 17 years leading the business.

The FTSE 100-listed firm said a succession process, led by Chairman Peter Bamford, will consider both internal and external candidates.

Regional Chain

B&M was a regional chain of 21 stores when it was acquired by Simon and Bobby Arora in December 2004.

It has since grown into a group of more than 1,100 stores across the United Kingdom and France with a market capitalisation of £5.5 billion ($7.2 billion).



"Having firmly established a strong, entrepreneurial culture and built a talented and experienced senior management team, Simon wishes to plan for retirement," B&M noted.

The group, the full name of which is B&M European Value Retail, said Bobby Arora, the group's trading director, intends to remain with the business in his current role.

Adjusted Core Earnings

On the 6 January,  the discounter which sells everything from food to gardening and DIY products, noted that it expects group adjusted core earnings for the 12 months ending March between £605 million ($817.8 million) and £625 million, compared with a company-compiled estimate of £578 million.


The company recorded third-quarter group revenue growth of 0.1% on a constant currency basis compared with last year.

News by Reuters, edited by Donna Ahern, Checkout. For more A-brand stories, click here. Click subscribe to sign up for the Checkout print edition.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.