TIDMMKS
RNS Number : 3853E
Marks and Spencer Group PLC
10 March 2022
MARKS AND SPENCER GROUP PLC
M&S APPOINTS STRONG NEW LEADERSHIP TEAM TO ACCELERATE
PROGRESS IN TRANSFORMATION
Following the announcement that Steve Rowe is standing down as
Chief Executive Officer at the company's preliminary results on 25
May, M&S is now moving to implement its planned succession
process.
Stuart Machin will become Chief Executive and will take on
responsibility for day-to-day leadership of the business and the
Executive Committee. He will continue to have oversight of his
current portfolio of responsibilities, which includes the
leadership of our Food business, as well as Operations, Property,
Store Development and Technology. He will also take on
responsibility for HR and Corporate Communications and will join
the PLC Board with effect from 25 May.
Katie Bickerstaffe will become Co-Chief Executive with a
particular focus on driving the global omnichannel, digital &
data future for the business. She will retain her existing
portfolio including responsibility for Clothing & Home, MS2,
International and Financial Services. Katie will also re-join the
PLC board with effect from 25 May where she was previously a
non-executive director.
Eoin Tonge becomes Chief Strategy & Finance Officer. In
addition to his current responsibilities, he will play an enhanced
role in leading the future development of the business. He will
also take on oversight of Plan A and remains on the PLC Board.
M&S is now embarked on the second phase of its
transformation programme, "Shaping The Future." The Board's view is
that under the current team, the business has made remarkable
progress and that continuity of strategy and leadership is
advantageous. Bringing together these three outstanding leaders
will provide the stability, pace and bandwidth required to
accelerate the pace of change.
Archie Norman, Chairman, commented:
"The appointments we are making today bring together a very
strong leadership team to take the business into the next stage of
its transformation. Both Stuart and Katie are outstanding high
impact leaders with very strong track records and experience of
leading businesses through transformative change. With Eoin, they
make a very powerful leadership team able to span the full breadth
of our businesses. Given the very strong recent progress we have
made, keeping up the pace and momentum is critical. We are
delighted to have brought together three exceptional individuals
who, with the support of the executive committee, will provide
vision, energy and pace for this next phase."
This announcement has been made in accordance with the
requirements of 9.6.11 of the UK Listing Rules.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the UK version of the Market Abuse Regulation (EU) No. 596/2014 as
it forms part of UK law by virtue of the European Union
(Withdrawal) Act 2018. Upon the publication of this announcement,
this inside information is now considered to be in the public
domain.
NOTES:
Katie Bickerstaffe is currently a non-executive director of
Barratt Developments PLC. In the last five years, Katie has also
held directorships with SSE plc and Dixons Carphone plc.
The Company confirms that there is no further information
required to be disclosed pursuant to paragraph 9.6.13 of the UK
Listing Rules.
-Ends -
For more information, please call:
Corporate Press Office: +44 (0)20 8718 1919
NOTES TO EDITORS:
Stuart Machin
Stuart joined M&S on 30 April 2018 as Managing Director of
Food, with nearly 30 years in the food, fashion and home retail
sector. In May 2021, Stuart's remit expanded as he was appointed
joint Chief Operating Officer, which in addition to his role as
Managing Director of M&S Food, took oversight responsibilities
for Operations, Property, Store Development and IT. Stuart is also
the Executive Lead for HR and a Director of Ocado Retail
Limited.
Stuart has held senior operational and commercial roles in UK
retailers Sainsbury's, Tesco and ASDA and spent 10 years in
Australia working in Wesfarmers as COO and CEO of Coles and Target
respectively. Stuart returned to the UK in 2017 and most recently
held the position of CEO at Steinhoff UK for eight months, before
leaving to join M&S.
Katie Bickerstaffe
Katie first served on the Board of M&S as a non-executive
director from 2018, before joining the M&S leadership team as
Chief Strategy and Transformation Director on 27 April 2020. In May
2021 her remit was expanded to become joint Chief Operating Officer
with responsibility for Clothing & Home, International, and the
Data & Services businesses.
Katie was previously Executive Chair of SSE Energy Services,
where she led the separation from SSE plc and subsequent sale to
OVO. Until April 2018, Katie was Chief Executive, UK and Ireland of
Dixons Carphone plc, where she led the transformation of Dixons'
retail estate, e-comm and the launch of the 'knowhow' services
business. She joined Dixons in 2008 and was appointed to its Board
in 2012. Prior to this she worked with many well-known food retail
and consumer companies including, Kwik Save, PepsiCo, Unilever,
Dyson, and Somerfield.
Katie is a non-executive director of the England and Wales
Cricket Board and joined Barratt Developments plc as a
non-executive director in March 2021.
Eoin Tonge
Eoin joined M&S in June 2020 as Chief Financial Officer,
bringing and in-depth knowledge of food, strategy and operations to
the leadership team. In May 2021 his remit was expanded to include
Strategy and Transformation Planning as part of his oversight
responsibilities. As CFO, Eoin is also a Director of Ocado Retail
Limited.
He was previously CFO of Greencore Group PLC, where he oversaw
key strategic changes. Prior to this, he was the MD of the Grocery
Business for two years and was previously the Chief Strategy
Officer from 2009-2014. His first role at Greencore was as Group
Capital Markets Director, where he oversaw the treasury and
investor relations functions. From 1994-2006 Eoin worked at Goldman
Sachs in a variety of roles across finance, treasury and capital
markets in London, Hong Kong and New York.
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END
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