B&M European Value Retail recently announced a retention agreement with its Trading Director, Bobby Arora. The agreement, valued at up to £16 million ($20.5 million) over three years, is contingent upon financial and performance criteria. This strategic move aims to ensure Arora's continued commitment to the company until at least March 2026.
A Crucial Player in Company Growth
Arora's significant contributions in developing B&M's customer proposition and driving long-term growth and profit cannot be overstated. Although he does not hold an executive director position on the board, Arora has played an instrumental role in the company's success. However, due to his non-executive status, he has not historically received a long-term incentive plan award.
Aligning Interests for Long-Term Success
Recognizing the importance of aligning Arora's interests with those of the company, B&M has decided to provide cash bonus payments in addition to his regular remuneration package. This ensures that Arora's commitment and dedication remain steadfast in contributing to B&M's long-term success. The maximum additional bonus payable under this agreement is a substantial £16 million.