18th Mar 2010 13:31
18 March 2010
MARKS & SPENCER ANNOUNCES DETAILS OF CHAIRMAN ROLE
Marks and Spencer Group plc (M&S) today announces that Sir Stuart Rose, currently
Executive Chairman, will become Chairman from 31 July 2010 on a salary of £875,000.
Sir Stuart will continue to chair the M&S Board and ensure a smooth transition for
Marc Bolland when he joins the company as its new Chief Executive on 1 May 2010.
Sir Stuart will leave the company in March 2011. Headhunters have now been appointed to identify and recruit an independent Chairman.
Sir David Michels, Deputy Chairman of Marks & Spencer, said, "The Board has set out this process to ensure a smooth transition over the coming months and enable Marc to draw on Stuart's considerable experience.
"We are pleased to be moving into the final stage of our commitment to split the roles and appoint an independent Chairman by March 2011."
-Ends-
For more information:
Clair Foster 0208 718 8323/ 07748 147851
Amanda Glover 0208 718 8132/ 07775 514185
M&S Corporate Press Office 0208 718 1919
Out of hours: 0208 718 2000
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