B&M chairman set to step down
RETAIL VETERAN Sir Terry Leahy is stepping down as chairman of discount chain B&M next year after five years in the role.
The former Tesco boss will be replaced on March 1 by Peter Bamford, chairman of SuperDry fashion firm SuperGroup.
The announcement came as the group posted a 17.8 per cent rise in pre-tax profits to £86.8m for the six months to September 23 after like-for-like sales rose 7.5 per cent, including a 7.7 per cent increase in the second quarter.
Under Sir Terry’s stewardship, B&M has seen its revenues surge from around £993m to £2.7bn as it has expanded from 331 stores to nearly 900.