10th Mar 2008 10:03
Marks & Spencer Group PLC10 March 2008 Issued: 10 March 2008 MARKS & SPENCER ANNOUNCES BOARD AND MANAGEMENT CHANGES Marks and Spencer Group plc (Marks & Spencer) is today announcing changes to theBoard and management team. The changes will ensure continuity of leadership,strengthen the Board and streamline the organisation to maximise its growthpotential. Lord Burns will stand down as Chairman, with effect from 1 June 2008. SirStuart Rose is appointed Executive Chairman from the same date and has committedto stay with the Company until the AGM in July 2011, when he will retire. SirDavid Michels is appointed Deputy Chairman from 1 June 2008. The Companyintends to appoint an additional Non-Executive Director in due course. Ian Dyson will become Group Finance and Operations Director, taking onresponsibility for Retail and HR, alongside his current responsibilities ofFinance, IT, Logistics, Property and Store Development. Steve Sharp willcontinue 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 willassume responsibility for all Clothing - womenswear, menswear, lingerie andchildrenswear - excluding per una. Steven Esom will continue to be responsiblefor Food. These appointments and Ian Dyson's change of role take place withimmediate effect. Lord Burns said: "My main tasks as Chairman have been to rebuild the Board andto 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 unanimousview of the Independent Directors, that placing Stuart in this new role createsthe right leadership structure for the Company. Stuart has the unique skillsto continue the challenge of making M&S a world class retailer, and to developthe future leaders of the business. "I welcome the appointment of Sir David Michels. He will play an important roleas Deputy Chairman and Senior Independent Director. He has extensive businessand 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 thebusiness and that Steve remains as Executive Director, Marketing. Together withthe appointments of Kate and Steven, these changes significantly strengthen thedepth and capability of the Board." Sir Stuart Rose said: "Terry has been an excellent Chairman and we are verygrateful 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 ExecutiveChairman, my task will be to guide the business through the next stage ofgrowth. "In addition to the Board changes, we have reviewed the senior managementstructure and have made a number of changes in order to streamline theorganisation. We congratulate the Directors moving into new roles and wouldlike to thank those leaving the Company for the very significant contributionsthey have made. They leave with our good wishes." ********************* Additional Senior Management Changes The following appointments have been made: Steve Rowe, currently Director ofHome, becomes Director of Retail; John Dixon assumes responsibility for Home aswell as M&S Direct; and Darrell Stein, Director of IT, also becomes responsiblefor Logistics. Richard Gillies, currently Director of Store Design, Developmentand Procurement, is appointed to the new role of Director of Plan A, reportingto the Executive Chairman. His current responsibilities will be split betweenClem Constantine, who becomes Director of Property and Store Development, andNayna McIntosh, who becomes Director of Store Marketing & Design. Procurementwill report to Finance. A number of senior executives will be leaving the Company. Guy Farrant stepsdown as Director of Retail after 30 successful years with the Company. TonyQuinlan, Director of Financial Control, Simon Ratcliffe, Director of Logisticsand Jude Bridge, Marketing Communications Director, will also leave. SimonRatcliffe'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 successorwill be named shortly. Stuart McIvor, Director of Far East Sourcing will also beretiring later this year and his role will be absorbed into that of the currentDirector of Sourcing, Nick Jones. Following on from these changes, the Executive Committee has been expanded andwill now comprise: Sir Stuart Rose Executive Chairman (from 1 June 2008)Ian Dyson Group Finance and Operations DirectorSteve Sharp Executive Director, MarketingKate Bostock Executive Director, ClothingSteven Esom Executive Director, FoodKeith Cameron Director of Human ResourcesAndrew Skinner Director of GM Planning and Supply ChainCarl Leaver Director of International Business New Executive Committee members: Clem Constantine Director of Property and Store DevelopmentJohn Dixon Director of Home and M&S DirectNayna McIntosh Director of Store Marketing & DesignSteve Rowe Director of RetailDarrell Stein Director of IT and Logistics ENDS Contacts: Investor Relations:Amanda Mellor +44 (0)20 8718 3604Majda Rainer +44 (0)20 8718 1563 Corporate Press Office: +44 (0)20 8718 1919 Out of hours +44 (0)20 8718 2000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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