Board and management changes at M&S

Marks and Spencer Group plc (Marks & Spencer) has announced changes to the Board and management team. The changes will ensure continuity of leadership, strengthen the Board and streamline the organisation to maximise its growth potential.

Lord Burns will stand down as Chairman, with effect from 1 June 2008. Sir Stuart Rose is appointed Executive Chairman from the same date and has committed to stay with the Company until the AGM in July 2011, when he will retire. Sir David Michels is appointed Deputy Chairman from 1 June 2008. The Company intends to appoint an additional Non-Executive Director in due course.

Ian Dyson will become Group Finance and Operations Director, taking on responsibility for Retail and HR, alongside his current responsibilities of Finance, IT, Logistics, Property and Store Development. Steve Sharp will continue as Executive Director, Marketing, with responsibility for Marketing, M&S Money and Store Design.

Kate Bostock and Steven Esom are appointed to the Board. Kate Bostock will assume responsibility for all Clothing - womenswear, menswear, lingerie and childrenswear - excluding per una. Steven Esom will continue to be responsible for Food. These appointments and Ian Dyson’s change of role take place with immediate effect.

Lord Burns said: "My main tasks as Chairman have been to rebuild the Board and to put in place the right leadership for the future. Since Stuart returned to M&S, the Company has made substantial progress. It is my view and the unanimous view of the Independent Directors, that placing Stuart in this new role creates the right leadership structure for the Company. Stuart has the unique skills to continue the challenge of making M&S a world class retailer, and to develop the future leaders of the business."

"I welcome the appointment of Sir David Michels. He will play an important role as Deputy Chairman and Senior Independent Director. He has extensive business and corporate governance experience and will chair the Nominations Committee. An additional Non-Executive Director will also be appointed.

"I am also pleased to announce that Ian will take on a broader role in the business and that Steve remains as Executive Director, Marketing. Together with the appointments of Kate and Steven, these changes significantly strengthen the depth and capability of the Board."

Sir Stuart Rose said: "Terry has been an excellent Chairman and we are very grateful to him. M&S is a business with a strong heritage and great potential. This is an important time in its development. In taking on the role of Executive Chairman, my task will be to guide the business through the next stage of growth.

"In addition to the Board changes, we have reviewed the senior management structure and have made a number of changes in order to streamline the organisation. We congratulate the Directors moving into new roles and would like to thank those leaving the Company for the very significant contributions they have made. They leave with our good wishes."

The following appointments have been made: Steve Rowe, currently Director of Home, becomes Director of Retail; John Dixon assumes responsibility for Home as well as M&S Direct; and Darrell Stein, Director of IT, also becomes responsible for Logistics. Richard Gillies, currently Director of Store Design, Development and Procurement, is appointed to the new role of Director of Plan A, reporting to the Executive Chairman. His current responsibilities will be split between Clem Constantine, who becomes Director of Property and Store Development, and Nayna McIntosh, who becomes Director of Store Marketing & Design. Procurement will report to Finance.

A number of senior executives will be leaving the Company. Guy Farrant steps down as Director of Retail after 30 successful years with the Company. Tony Quinlan, Director of Financial Control, Simon Ratcliffe, Director of Logistics and Jude Bridge, Marketing Communications Director, will also leave. Simon Ratcliffe’s and Jude Bridge’s responsibilities are taken up by, respectively, Darrell Stein and Nayna McIntosh.

Keith Cameron, Director of HR, will be retiring in April 2008. His successor will be named shortly. Stuart McIvor, Director of Far East Sourcing will also be retiring later this year and his role will be absorbed into that of the current Director of Sourcing, Nick Jones.

Following on from these changes, the Executive Committee has been expanded and will now comprise:

Sir Stuart Rose - Executive Chairman (from 1 June 2008)
Ian Dyson - Group Finance and Operations Director
Steve Sharp - Executive Director, Marketing
Kate Bostock - Executive Director, Clothing
Steven Esom - Executive Director, Food
Keith Cameron - Director of Human Resources
Andrew Skinner - Director of GM Planning and Supply Chain
Carl Leaver - Director of International Business

New Executive Committee members:
Clem Constantine - Director of Property and Store Development
John Dixon - Director of Home and M&S Direct
Nayna McIntosh - Director of Store Marketing & Design
Steve Rowe - Director of Retail
Darrell Stein - Director of IT and Logistics