Marks and Spencer Group plc, a major British multinational retailer, has announced a directorate change in the organization. Robert Swannell, Chairman, M&S has informed the Board of his intention to retire next year.
Vindi Banga, Senior Independent Director, M&S will now lead a process to identify and appoint the next Chairman.
Also Read – Fast fashion brands impact M&S’s clothing business
Swanell served the role of Chairman for six years and will continue in his role until this process is completed. “A year ago, we chose Steve Rowe as our Chief Executive. Steve completed a thorough analysis of the business and developed a detailed plan to build a simpler and more relevant M&S. This plan is now underway and I feel that it is the right time for the business to look for a new Chairman,” he said.
