Marc Bolland will step down as the boss of Marks & Spencer in April, bringing an end to six difficult years at the British retailer following yet another poor Christmas trading.
The 132-year-old stalwart of Britain’s shopping streets said on Thursday that Bolland had informed the board he would go in April and the firm has appointed Steve Rowe, the current head of its non-food business, as his successor.
Bolland had battled to bring M&S back to its glory days, spending billions of pounds on the redesign of products, stores, supply chain logistics and the website to address decades of under investment at the clothing business.
(Source: CNBC)