M&S extends tenure of chairman
The chair of Marks and Spencer, Archie Norman, has had his tenure extended by the retailer’s board.
Having started in the role in 2017, he will reach the “comply or explain” nine-year point in eleven months’ time.
The extension will last for three years from September 2026, subject to an annual comprehensive review by a committee of independent directors and the absence of any material change in circumstances.
In a statement, M&S said: “The board is unanimous in its conviction that his continuation as chairman is in the best interests of the company and there is widespread support for this view across the shareholder base.
Subscribe to TRB“M&S is a rapidly changing business with a recently strengthened executive team but there is a long way to go in delivering the Reshaping for Growth strategy and the Company will benefit from the continued strong leadership and stability Archie’s chairmanship will bring.”
The appointment will be put to annual shareholder approval at the AGM in the normal way.
Senior independent director Fiona Dawson said: “Archie has been an exceptional chair, steering an effective, engaged board and putting in place a highly capable leadership team under Stuart Machin which is transforming M&S and building a stronger, better business.
“There remains much to do, and Archie’s deep knowledge of the business, drive and unique experience will be invaluable as we move to the next phase of the Reshaping for Growth plan.”
