The outgoing boss of B&M Simon Arora has become one of the highest earning CEOs in retail after winning £ 5 million last year, according to the company’s annual report.

Arora was paid a basic salary of £ 810,000 and also received an annual bonus of £ 1.5 million and a long-term share bonus of £ 2.6 million with a retention period until August 2024.

B&M said the payout was awarded after Aora fully met its shareholder return targets and share price performance compared to similar businesses. It says that it has also partially achieved growth in targets for such sales, as well as developing its online capabilities.

Arora, who has been with B&M for almost 20 years, will retire next year. He will be succeeded by the current CFO of B&M Alex Rousseau.

The news comes despite a drop in sales in its most recent full-year results, published last month, as its revenue fell 2.7% to £ 4.7 billion from a year earlier, despite rising 22%. 5% on a two-year basis compared to the 20th financial year.

Revenue from fascia in the United Kingdom decreased by 4.1% on an annual basis, largely driven by a one-year decline in revenue of 9%. However, on a two-year basis, LFL revenues grew by 13.0%, with sales density being “significantly higher” than before the pandemic due to the retention of new customers.

Outgoing B&M boss awarded £5m payout

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