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Marks & Spencer chairman to retire next year

Marks & Spencer is on the hunt for a new chairman as Robert Swannell has announced he will retire in 2017 after six years.

Robert Swannell

Senior independent director Vindi Banga is now leading a process to find a replacement.

Swannell will continue in his role until a successor is found.

“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,” said Swannell.

“This plan is now underway and I feel it is the right time for the business to look for a new chairman.”

Swannell, who is a qualified chartered accountant and barrister, was appointed a non-executive director of M&S in October 2010 and became chairman in January 2011.

Before joining the retailer, he spent more than 30 years in investment banking with Schroders/Citigroup.

Readers' comments (1)

  • I went in my local M&S yesterday and it is still Grace Bros, but with cheap clothing that should not bear the name.

    What is the most successful part of M&S? Food. It is a bit more money that average, but is good quality.

    Why won't the penny drop?

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