12th May 2016 14:29
LONDON (Alliance News) - Marks & Spencer Group PLC on Thursday announced a series of management changes in the first shake-up under Chief Executive Steve Rowe since he took the helm in April.
The clothing, food and homewares retailer said the changes will simplify its management structure in order to drive speedier decision-making and move the business closer to its customers.
Under the changes, Patrick Bousquet-Chavanne is now executive director of customer, marketing and M&S.com, assuming new responsibilities for the online business and passing his previous international responsibilities to Rowe.
Chief Financial Officer Helen Weir will also now assume responsibility for strategy implementation.
M&S is also establishing a new operating committee that will be accountable for the day-to-day running of the business as well as for the development and execution of strategy.
The operating committee will consist of the executive directors as well as the directors for food, womenswear, lingerie & beauty, retail, international, communications & investor relations, human resources and the group secretary & head of corporate governance.
"On my first day as CEO, I committed to putting M&S customers at the heart of everything we do. These changes reflect this; a simpler management structure with a smaller, more focused team running M&S will lead to more efficient decision making and move us closer to our customers," Rowe said in a statement.
"The new operating committee will be working together to improve M&S, starting with fixing our clothing & home offer for our customers, our employees and our shareholders," he added.
Shares in M&S were trading up 1.2% at 422.80 pence on Thursday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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