Marks & Spencer has promoted chief executive Sir Stuart Rose to executive chairman, in a major management shake-up at the high street chain. Rose will take the additional responsibility from Terry Burns in June.
Kate Bostock and Steven Esom have been appointed to the board as executive directors. Bostock takes on all clothing – including the Per Una range – and Esom will continue to be responsible for food. The changes will take place immediately and Steve Sharp will remain as the company’s executive marketing director, responsibility for marketing, M&S Money and store design.
As part of the reshuffle marketing communications director Jude Bridge is leaving the chain.
Rose was appointed in May 2004 to fend off a bid for Marks & Spencer by billionaire Phillip Green. Rose has since reversed a sales decline by redesigning shops and using models and singers in the company’s advertising campaigns. However, the retailer’s like-for like sales fell by 2.2% in the last three months of 2007 – its worst quarter for more than two years.
In addition, Steve Rowe, currently director of Home, becomes director of Retail; John Dixon assumes responsibility for Home as well as M&S Direct.