B&M chairman Peter Bamford to retire

(Sharecast News) - B&M European Value Retail said on Tuesday that chairman Peter Bamford plans to retire this year. The discount retailer said an executive search firm has been appointed and a recruitment process for a new chair will begin with immediate effect, led by senior independent director Tiffany Hall.

A retirement date for Bamford, who has been with the company since 2018, has not yet been set. In the meantime, he will continue to serve as chairman and ensure an orderly handover to his successor in due course, B&M said.

Bamford said: "It has been a privilege to chair B&M over the last six 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."