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Marks & Spencer reveals board changes

Marks & Spencer has rejigged its board following the retirement of senior independent director and chairman of the remuneration committee Vindi Banga.

Banga, who has been with the retailer since September 2011, was instrumental in the appointment of new chair Archie Norman in 2017.

Chairman of the audit committee Andy Halford, who was appointed in January 2013, will succeed Vindi as senior independent director. He will continue as chairman of the audit committee.

Andrew Fisher will take over from Vindi as chairman of the remuneration committee. Fisher will step down from the audit committee, which he joined in 2015.

Marks & Spencer chairman Archie Norman said: “Vindi has been an extraordinary contributor to the M&S board over seven years and is as much as anyone author of the transformation team we have in place today. With Robert Swannell he was highly instrumental in the appointment of Steve Rowe as chief executive and he oversaw the succession process for a new chairman. As SID [senior independent director] and chairman of the remuneration committee the company has relied on him for his sagacity and judgement and he leaves with our enormous thanks.”

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