B&M European Value Retail Group (LON:BME) have stated that as announced on 24 February 2025, Alex Russo will be retiring as Group Chief Executive Officer and as a Director of the Company with effect from today. The Board continues to make good progress on CEO succession and will update the market as soon as the recruitment process has concluded. In the intervening period, the Board has appointed Mike Schmidt to act as interim CEO, alongside his role as CFO.
B&M European Value Retail SA is a Luxembourg-based holding company of the Group. The Company’s principal activity of the Group is variety retailing in the United Kingdom (UK) with 707 stores and France. The Company reports three segments: UK B&M; UK Heron and France Babou. The Company’s stores are in modern retail parks, town centres, and local shopping parades and precincts. The Company’s branded B&M, Heron Foods and Babou stores offer a limited assortment within each of its products in food, grocery, and general merchandise ranges. The products are mainly sourced direct from manufacturers. In the UK retail market, B&M operates over 650 stores, and The Heron Foods chain has around 290 convenience stores. In the French retail market, Babou operates around 100 stores with the general merchandise, clothing, and footwear.
