Marks & Spencer chief executive Sir Stuart Rose received his knighthood from the Queen yesterday at Buckingham Palace.
Rose, 59, was named in the New Year's Honours List for services to the retail industry and to corporate social responsibility.
He reportedly told press outside the palace that the gong was "recognition for 37 years work and recognition that M&S is back on top".
Rose first joined Marks & Spencer as a management trainee in 1972 and worked for the business for 17 years before leaving to join the Burton Group. He then went on to become chief executive of cash and carry business Booker and catalogue firm Argos before returning to M&S in 2004. He is widely credited with turning around the high street giant.
His knighthood partly recognised the lead the retailer has taken in ethical matters with its Plan A project, which aims to promote a greener way of doing business.