MARKS AND SPENCER GROUP PLC ANNOUNCES BOARD AND COMMITTEE CHANGES
Marks and Spencer Group plc (“M&S”) today announces the following changes to its Board and Committee membership.
Having served on the Board since September 2011, and having led the succession process for the new Chairman in 2017, Vindi Banga, Senior Independent Director and Chairman of the Remuneration Committee, has now decided to step down from the Board and will retire as a Director on 1 October 2018.
As a result, Andy Halford, who was appointed in January 2013, will succeed Vindi as Senior Independent Director. Andy will continue as Chairman of the Audit Committee.
Andrew Fisher, appointed in December 2015, will succeed Vindi as Chairman of the Remuneration Committee. Andrew will step down from the Audit Committee as a result of this appointment.
Archie Norman, Marks & Spencer Chairman said: “Vindi has been an extraordinary contributor to the M&S board over seven years and is as much as anyone author of the transformation team we have in place today. With Robert Swannell he was highly instrumental in the appointment of Steve Rowe as Chief Executive and he oversaw the succession process for a new Chairman. As SID and Chairman of the Remuneration Committee the Company has relied on him for his sagacity and judgement and he leaves with our enormous thanks."
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For more information, please call:
M&S Corporate PR 0208 718 1919
Notes to Editors:
Making M&S Special
In November 2017 Marks & Spencer set out a transformation programme for the business concentrating on Restoring the Basics, Shaping the Future and Making M&S Special.
Under this transformation programme, Making M&S Special, M&S has to date announced:
- A slowdown in the Simply Food store opening programme
- An acceleration of the UK store estate closure programme
- The sale and franchise of its retail business in Hong Kong and Macau
- A new Technology Transformation Programme
- Improvements to its Clothing & Home Logistics Network
- The restructure of the Customer, Marketing & Digital Team
- New customer insight partnership with Starcount
- The appointment of a new Food Managing Director
- The merging of its Retail & Property functions
- A New leadership team responsible for overhauling Clothing & Home business
- The announcement of the start of a programme to create a family of businesses under the M&S brand
- The appointment of two new Non-Executive Directors to its Board
- A strategic partnership with Microsoft focused on transforming the retail experience
- A new strategic partnership with Octopus to supply energy and services under the M&S Energy brand
- The launch of Founders Factory Retail, a JV focused on investing in start-ups
- The creation of a Retail Data Academy with Decoded to upskill over 1000 colleagues
- A partnership with True to gain access to the latest enterprise-ready technologies and innovations
People & Structure Changes
Since Steve Rowe became CEO in April 2016, M&S has set about streamlining and changing its operational and leadership structure. The Clothing & Home and Food businesses have been established as two separate business units, each with full P&L accountabilities, and independently managed.
Additionally, the senior leadership team has been strengthened by reducing in number and fully empowering its Operating Committee, and a number of senior hires, including:
- David Guise, HR Director, appointed October 2016
- Mel Smith, Strategy Director, appointed May 2017
- Jill McDonald, Clothing & Home MD, appointed October 2017
- Victoria Self, Digital Director, appointed January 2018
- Sharry Cramond, Food Marketing Director, appointed January 2018
- Lawrence Christensen, Independent Advisor on Supply Chain, appointed March 2018
- Julian Richer, Independent Advisor on Culture Change, appointed March 2018
- Stuart Machin, Food MD, appointed April 2018
- Wes Taylor, Menswear Director, appointed May 2018
- Neil Adams, Food Transformation Director, appointed May 2018
- Jill Stanton, Womenswear & Kidswear Director, appointed July 2018
- Humphrey Singer, CFO, appointed July 2018
- Nick Hewitt, Director of Finance, Food, appointed August 2018
- Kirsty Ward, Director of M&S Bank and Services, appointed September 2018
- Jeremy Pee, Chief Digital & Data Officer, appointed September 201