Marks & Spencer chairman Robert Swannell to retire next year
Marks & Spencer has announced that its chairman Robert Swannell has informed the business that he intends to retire in 2017.
He has served for six years in the position.
Senior independent director Vindi Banga will be leading the process to find a successor to Swannell who will remain in his role until the appointment process is complete.
Swannell said: “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. It is a real privilege to chair this iconic company and I will continue to do so until my successor is in place.”
