The Marks & Spencer Pension Scheme is pleased to announce the appointment of a new Chairman, Tony Watson, retiring CEO of Hermes. Tony will take on the role with effect from 1 April 2006.

The Scheme has operated with an Interim Chairman, retired member David Eyre, since the previous Chairman, David Norgrove, left to become Chair of the Pensions Regulator.

Company Chairman, Paul Myners said: "This is excellent news for the Scheme. We are delighted to attract someone of Tony's experience who will be invaluable in working with the Trustee Board to deal with the many investment, funding and legislative issues facing all trustees at the current time. Tony's appointment is consistent with the engagement I have been giving to increasing the professionalism of Trustee work. I am personally delighted that he has been appointed as Chairman by our Trustees."

Tony Watson said: "I am very pleased to take on this role as Chairman of the Trust. The Scheme has over130,000 members for whom current and future payments are a key element of their financial planning. However, there is an absolute need to safeguard the well-being and exposure of the Scheme whilst also respecting shareholders' interests."

For further information, please contact:
Sue Sadler Corporate Press Office 020 8718 8642

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