Simon Arora, Chief Exec of B&M, has been given a massive salary bump a huge pay after the company floated on the London Stock Exchange.
According to the Daily Mail, Arora will earn a basic salary of £575,000 this year, four times the basic pay of £144,000 he earned last year, which was topped up with an additional £22, 248.
Arora bought the bargain-basement bazaar, often referred to as the ‘new Woolworths’, a decade ago and his pay is starkly juxtaposed with the income of B&M customers and its basic-paid staff.
The increase emerged in the company’s annual report and accounts but it remains unknown the pay and benefits of former Tesco boss Sir Terry Leahy, who joined B&M as Chairman in December 2012.
The report said Leahy ‘does not receive any fees’ from B&M.