Outgoing boss of discount retailer B&M handed £5m payout

Simon Arora's pay package beats Tesco CEO's remuneration despite flatlining profits and falling sales

The outgoing chief executive of discount retailer B&M earned 5m last year - more than the boss of Tesco.

Simon Arora's pay package rose by more than a third to the highest level ever for the company - and 270 times that of the average B&M worker - despite flatlining profits and falling sales in the year to the end of March as more rival shops reopened from the Covid pandemic. B&M enjoyed essential retailer" during the lockdowns.