Vandevelde to step back at M&S
Roger Holmes moves into High Street hot seat
July 20 2002
As expected, Luc Vandevelde is hanidng the chief executive role at Marks & specner offer to successor Roger Holmes.
The man credited with brining about the revival of the iconic Uk retailer will retain the chairman’s role, but go part time from January 2003.
Vandevelde said: “We are a different and more focused business today. We have completed the re-structuring of the company, we are pursuing a clear strategy and with this announcement we are putting in place the right leadership structure.
“Roger has been key to our recovery and has delivered excellent results since he joined in December 2000. I regard him as the right man to take the company forward and I look forward to continuing to work with him to seize the opportunities ahead.”
Roger Holmes, currently managuing director of UK retail, said: “I am delighted to be given the opportunity to lead the Company towards re-establishing Marks & Spencer as the standard against which all others would wish to be measured. Today’s trading results reflect another step in winning back the confidence of our customers as we apply the enduring principles of quality, value, service and innovation to the new opportunities and demands of today’s marketplace.”
