B&M begins search for CEO as Simon Arora announces retirement plans

Discount retailer B&M European Value Retail has started the search for a new chief executive, after Simon Arora announced he plans to retire in 12 months.

He has headed the group, based in Speke, South Liverpool, for 17 years.

Mr Arora is also chairman of trade organisation, the Manchester-India Partnership. The partnership was formed in 2018 and has full-time teams in Mumbai and Manchester to strengthen trade, investment, cultural, and educational ties.

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

Since then, it has grown into a group of more than 1,100 stores across the UK and France and is now a constituent of the FTSE100 index.

Having firmly established a strong, entrepreneurial culture and built a talented and experienced senior management team, Simon said he wishes to plan for retirement. Bobby Arora, group trading director, intends to remain with the business in his current role.

Over the coming year, Simon will remain fully committed to the business in his role as chief executive, in particular to assist in a smooth transition to his successor.

A succession process, led by chairman Peter Bamford, will consider both internal and external candidates in the group’s search for a replacement.

Peter Bamford said: “On behalf of the board and all stakeholders of the group, I would like to thank Simon for his leadership over the past 17 years.

“The remarkable growth of the business from its humble beginnings to where it is today reflects his exceptional passion, determination and ability.

“Moreover, he has established a firm foundation from which the group will continue to deliver its successful growth strategy and great value for its customers. We are all very grateful for his tireless efforts and he will leave us next year with our best wishes for the future.”

Simon Arora said: “It has been a privilege to lead B&M for 17 years and I am immensely proud of the incredible journey that we have been on.

“B&M’s value for money proposition remains as relevant and compelling to shoppers today as it has ever been. I would like to thank all 38,000 members of the B&M family for their hard work and commitment both now and as we continue our expansion.”