Bolland is currently the chief executive of the Morrisons supermarket chain and will take up the M&S role in the New Year.
Asda chief executive Andy Bond and Justin King, CEO of Sainsbury’s have been linked to the role in the past few months, as have internal candidates, including M&S head of food John Dixon and finance director Ian Dyson.
Bolland joined Morrisons in 2006 and is credited with growing in the chain’s market share and profits during his time at the helm.
The chain posted the highest growth of the top four supermarkets (8.5%) in the past three months according to the latest TNS Worldpanel figures and is expected to post bumper Christmas sales figures.
Previously Bolland was chief operating officer and executive board member at Heineken NV, based in the Netherlands. He is also a non-executive director of Manpower in the USA.
Rose will continue in his role as chairman of the retail chain and will leave as planned by July 2011.
Rose says: “He brings a wealth of consumer marketing experience and has made a great success of his time at Morrisons. We very much look forward to welcoming him and working together.”
Bolland says: “M&S is one of the world’s great brands and I am very pleased to be given the opportunity to lead the company forward at this exciting stage. I am greatly looking forward to working closely with Stuart and the M&S team.”
Shortly after the announcement of Marc Bolland’s appointment, shares in M&S rose 5% while Morrisons shares dropped by 5%.