Leahy’s bowing out in style
SIR Terry Leahy is checking out as chairman of B&M after five years in which he steered the discount retailer on to the stock market and oversaw rapid expansion.
The ex-Tesco boss will be succeeded next March by Peter Bamford, who chairs Superdry fashion brand owner SuperGroup. B&M’s shares have risen by more than 40 per cent since its float in June 2014. Pre-tax profit is up from about £83 million to £204 million, with sales up from £993million to £2.67billion as stores increased from 331 to 893. Leahy said: “It has been a great privilege to have been part of one of the most exciting retail growth stories of the past decade.”