Retail giant B&M Bargains has promoted its chief financial officer Alex Russo to the role of chief executive following Simon Arora’s decision to step down.
Russo, who joined B&M in October 2020, has previously held senior leadership positions at supermarkets Asda and Tesco.
Russo’s appointment to CEO follows a thorough assessment and external benchmarking process across the past six weeks in which the board was assisted and advised by management consulting company Russell Reynolds Associates.
In a statement, former CEO Simon Arora said, “It has been an honour to lead B&M and together build such a large and popular retailer. I believe that Alex is uniquely well placed to continue B&M’s success and I will work hard to ensure a smooth transition.”
Meanwhile, B&M chairman Peter Bamford commented, “Since joining the group, Alex has made a very positive contribution to the business. He has demonstrated strong leadership skills and a deep appreciation of the B&M culture and business model, making him the outstanding candidate for the role.”
