B&M has received a long-term commitment from its group trading director Bobby Arora, which will see the value retailer hand out millions to him in bonuses.
In a statement to the London Stock Exchange, B&M said the agreement will “secure his commitment to the company until at least March 2026”.
The maximum additional bonus Arora can receive is £16m over three years to the end of FY26, subject to “a number of financial and performance criteria”.
Bobby Arora and his brother Simon bought the value retailer in 2004 and remain its biggest shareholders, with Simon retiring as chief executive in 2022.
B&M said in a statement: “Bobby has played an instrumental role in developing the B&M customer proposition and delivering the company’s long-term growth and profitability.
“However, as Bobby is not an executive director on the board, he has historically not received a performance-based, long-term incentive plan award.
“The board believes that continuing to align his interests with those of B&M is important to the long-term success of the business and has therefore entered into an agreement with Bobby, which will deliver cash bonus payments over and above his normal remuneration package.”
The retention package aims to make sure B&M continues to have “a strong leadership team in place”, which will help it offer customers “exceptional value for money and deliver long-term value to all shareholders”.
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