B&M chair­man set to step down

Yorkshire Post - - BUSINESS -

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.

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