B&M European Value Retail S.A. Chairman Appointment (3789W)
14 November 2017 - 6:05PM
UK Regulatory
TIDMBME
RNS Number : 3789W
B&M European Value Retail S.A.
14 November 2017
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.GBP993m to c.GBP2,671m, profit before
tax rising from c.GBP83m to c.GBP204m 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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