Marks & Spencer chairman Robert Swannell to retire next year
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.”
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