Peter Bamford, the current chairman of B&M, will retire during this calendar year.

He has served as chairman at the discount retailer since March 2018.

The company has started to search for a replacement, with Tiffany Hall, senior independent director at B&M leading the search.

The retailer said that no retirement date has been set, with Bamford continuing to serve as chairman to ensure a smooth handover to his successor.

“Peter has been a great business partner since I joined the business in 2020,” said Alex Russo, chief executive at B&M. “I have thoroughly enjoyed working with him, both personally and professionally.

“His unrelenting drive in reinforcing the B&M culture at Board level has been of the first order. We wish him all the best in his next personal project.”

Earlier this month, B&M reported year on year revenue growth of five per cent in the 13 weeks ended 23 December.

The discount retailer’s UK business revenues reached £1.35 billion during the period, a 3.7 per cent rise on 2022, while B&M France saw revenues rise by 11.3 per cent to £151 million.

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