Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

M&S’s Bolland tells board he is staying

Marks & Spencer chief executive Marc Bolland has told the retailer’s board that he is staying put for another two years, despite speculation about his future.

Ahead of M&S’s interim results on November 4, Bolland told the board he is committed to the business because he believes his turnaround efforts are beginning to pay off, according to The Telegraph.

Bolland has argued that he has employed a “step-by-step” strategy which included overhauling the online business and supply chain to improve margins, but the womenswear collection has continued to struggle, despite repeated revival efforts.

M&S’s performance stalled in the 13 weeks to June 27, when like-for-like sales of general merchandise fell 0.4% after a return to growth six weeks before.

The commitment from Bolland will delay a power struggle between senior M&S executives for his position. Tipped for the top job are former M&S food boss Steve Rowe, who was recently given responsibility for general merchandise and Laura Wade-Gery, who heads the stores and online division.

The news follows high profile departures in retail last week when Debenhams boss Michael Sharp announced he will step down in 2016 and Waitrose boss Mark Price said he was leaving the grocer.

Readers' comments (1)

  • The problem here is that even though Bolland should of gone years ago, he will be replaced by another M&S clone, so the brand won't make any progress and will still have a board of directors whose wives buy their underpants.

    Unsuitable or offensive? Report this comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.