Discount chain operator B&M has secured the services of its Trading Director Bobby Arora for another three years at a potential cost of £16m.
Together with his brother Simon Arora, who stepped down as Chief Executive last year, Bobby bought B&M in 2004 and expanded it from a regional chain of 21 stores to a fast-growing retailer with over 1,100 outlets across the UK and France.
Bobby is not an Executive Director on the company’s board and he has historically not received a performance-based incentive plan award.
As part of his commitment to stay with the company until at least March 2026, he will now receive an additional bonus of up to £16m over the three years, subject to a number of financial and performance criteria.
“Bobby has played an instrumental role in developing the B&M customer proposition and delivering the company’s long term growth and profitability,” the company said.
“Following the smooth and successful Chief Executive succession last year, this retention package will ensure that B&M continues have a strong leadership team in place which will enable the company to offer customers exceptional value for money and deliver long-term value to all shareholders.”
Last month, B&M reported a 13.5% rise in quarterly revenue after seeing “strong, profitable trading momentum” across all three of its business units as shoppers continued to seek out bargains during the cost of living crisis.
