Marks & Spencer Shuffles Roles on Senior Management Team
(Bloomberg) -- Marks & Spencer Group Plc reorganized its top management team before a push to drive growth following three years of restructuring at the U.K. housewares and clothing retailer.
As part of the shuffle, Katie Bickerstaffe, chief strategy and transformation officer, and Stuart Machin, managing director of food, will become joint chief operating officers, the London-based company said Tuesday in a statement.
M&S has struggled for the past decade with declining profits amid tough competition and structural change in the industry. Various management teams have tried to turn the business around, with the current effort led by Chief Executive Officer Steve Rowe. The company said it’s now moving on from a “fixing-the-basics” phase to a period of investment and growth.
“That means accelerating the pace of change,” Rowe said in the statement. “Stuart and Katie will bring even more impetus to our core businesses.”
Machin will maintain control of the food arm but also take on responsibility for the retailer’s operations, property portfolio, store development and IT. Bickerstaffe will have oversight of the clothing and home and international businesses as well as data and services.
Eoin Tonge, who joined as chief financial officer last June, will take on the additional role of heading strategy and transformation planning. Sacha Berendji will move from his current operations role to focus on future stores and accelerating the development of digital shops and store renewal programs.
The M&S executive committee’s membership will remain unchanged and it will continue to operate as the central decision-making body.
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