Marks & Spencer Group PLC M&S Realigns Management Structure (0169Z)
18 Maggio 2021 - 1:00PM
UK Regulatory
TIDMMKS
RNS Number : 0169Z
Marks & Spencer Group PLC
18 May 2021
MARKS AND SPENCER GROUP PLC
MARKS & SPENCER REALIGNS MANAGEMENT STRUCTURE FOR NEXT PHASE
OF TRANSFORMATION
Three years ago, Steve Rowe, Chief Executive Officer of Marks
& Spencer (M&S), set out the need to 'face the facts' about
the challenges facing M&S and a three-phase transformation
programme, beginning with 'Fixing the Basics.' Since then, there
have been far reaching changes in how the business is organised,
its people and culture, the shape of the store estate, use of
technology, and improvements in product and value to broaden
appeal. As a result, the business is now moving on from the 'Fixing
the Basics' phase to reinvest in the brand and restore growth. We
are therefore announcing a realignment in the leadership team's
responsibilities as follows:
Katie Bickerstaffe and Stuart Machin will become Joint Chief
Operating Officers. Stuart will continue as Managing Director of
Food but also take oversight responsibility for Operations,
Property, Store Development and IT. Katie will give oversight to
the Data, Services, Clothing and Home and International
businesses.
Eoin Tonge will take on Strategy and Transformation Planning as
part of his remit as Chief Financial Officer.
Sacha Berendji moves from his current operations role to focus
on "Future Stores" and accelerate the development of our 10X
digital stores, store renewal, store rotation and IT.
Richard Price and Paul Friston remain as Managing Directors of
Clothing and Home and International respectively.
The Executive Committee will continue to operate as the
business's central decision-making body and its membership is
unchanged.
Steve Rowe, CEO said "Over the last three years we have built a
great team of people at M&S and covered a lot of ground. Now we
need to move into the next phase, and that means accelerating the
pace of change, and Stuart and Katie will bring even more impetus
to our core businesses. With that I will, with Eoin's support, be
better able to concentrate on building the M&S of the future
and our path to growth."
This announcement is made pursuant to Listing Rule 9.6.11
(3).
-Ends-
For more information, please call:
M&S External Communications
0208 718 1919
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END
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