Value retailer B&M has announced that incoming CEO Alex Russo will officially join the company on 26 September 2022, succeeding Simon Arora.

At that point Simon Arora, who announced his intention to step down as CEO on 22 April 2022, 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. In the short period between Alex’s appointment as CEO taking effect on 26 September 2022 and Mike joining as CFO on 17 October 2022, Alex will retain responsibility for his current role and will be supported in that work by Peter Waterhouse as Group Financial Controller.

The Group has also confirmed that Tiffany Hall, currently Non-Executive Director and Chair of the Remuneration Committee, will become Senior Independent Director when Ron McMillan retires from the Board in July 2023.