Marks & Spencer CEO to Retire
Marks & Spencer CEO to Retire
Marc Bolland, Marks & Spencer’s Chief Executive Officer, has surprised many with today’s announcement that he will retire from the company this year. This announcement comes on the heels of an unexpected drop in the brand’s clothing sales, though Bolland has referenced no connection to this drop in his decision to retire.
Clothing sales have been a difficulty for the company of the past few years, at one point sparking the question of whether they should perhaps choose food or fashion as their main focus rather than both. Bolland’s efforts to reinvigorate the clothing portion of the company have resulted in few upward turns for the brand, leading him to take a 26 percent pay cut in 2014. Despite this setback, Bolland pushed forward with the company’s commitment to achieve greater sustainability in 2020 later that year.
Marks and Spencer’s Executive Director of General Merchandise Steve Rowe, who stepped into his current position only last year, will take Bolland’s place upon the finalization of his retirement on April 12.
Marks & Spencer CEO to Retire
