The chairman of Marks and Spencer Group, Robert Swannell, is stepping down in 2017 after six years with the retailer, M&S announced Tuesday.
Senior independent director Vindi Banga will lead the search for a new chairperson, and Swannell will stay in the role until a suitable candidate is selected.
The chairman said of his retirement: "A year ago we chose Steve Rowe as our chief executive. Steve completed a thorough analysis of the business and developed a detailed plan to build a simpler and more relevant M&S.
"This plan is now underway and I feel that it is the right time for the business to look for a new Chair[person]. It is a real privilege to chair this iconic company".
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. To subscribe to ESM: The European Supermarket Magazine, click here.
