New Top Management Team
Marks & Spencer PLC
18 September 2000
MARKS & SPENCER ANNOUNCES NEW TOP MANAGEMENT TEAM
The Board of Marks and Spencer p.l.c. today announces its
new top management team, reflecting its commitment to
stepping up the pace of change. The changes are as follows.
- Executive Chairman Luc Vandevelde will assume the
responsibilities of Chief Executive from Peter Salsbury.
Peter Salsbury has resigned from the Board, with immediate
effect, and will be leaving the Company.
- Clara Freeman, Executive Director for UK Stores and
Group Personnel, and Guy McCracken, Executive Director,
International Retail, Business Systems and Information
Technology, have also resigned from the Board, effective
today, and will be leaving the Company.
- Two new directors have been appointed to the Board:
Roger Holmes, formerly of Kingfisher, will join the
Executive Board as Managing Director, UK Retail; David
Norgrove, Chairman of Marks & Spencer's Ventures Division,
will join the Board as Executive Director, Strategy,
International and Ventures.
- The Marks and Spencer plc Board of Executive Directors
will comprise, in addition to Chairman and Chief Executive
Luc Vandevelde: Robert Colvill, Director for Finance and
Financial Services; Roger Holmes, Managing Director, UK
Retail; Alan McWalter, Director for Marketing, Direct and E-
Commerce; and David Norgrove, Director for Strategy,
International and Ventures.
Luc Vandevelde said, 'After six months in my role, I'm clear
that in today's challenging trading conditions we need to
step up both the pace and quality of implementation. These
changes will inject new blood and management skills to
strengthen our capability in strategy and execution. The
business already has great expertise in its core areas of
clothing, food and financial services. We now need to go
forward with greater speed and determination.
Accountability is key. I am confident that the new team
will help me to progress more quickly the Company's return
to acceptable levels of performance.'
He added, 'I would like to thank Peter, Clara and Guy for
their commitment to Marks & Spencer and the contributions
they have made here. Peter deserves particular credit for
the tough and courageous decisions he made to put the
Company on its path to recovery.'
Roger Holmes, 40, will join the Board of Marks and Spencer
plc as Executive Director in charge of the UK Retail
Division and will be responsible for the Company's 297 UK
stores, Direct and e-commerce businesses. He joins the
Company from Kingfisher, where he has been Chief Executive
of the £3bn Electrical Sector and a main Board Director. He
joined B&Q in 1994 as Finance Director and, three years
later, was transferred to Woolworths to become Managing
Director. At Woolworths, he led a series of new growth
initiatives in the core chain and in new ventures, while
sustaining the overall profit growth of the business. In
1999, Roger was promoted again to take up his current role.
Prior to joining Kingfisher, he spent seven years as a
strategy consultant for McKinsey & Co., latterly as
Principal, specialising in retail and consumer goods.
At Marks & Spencer, Roger Holmes will head up the UK Retail
Division, responsible for all aspects of the UK Retail
business, operations and management of seven Customer
Business Units, functional heads and stores. His strong
strategic management skills, combined with proven hands-on
experience in a range of business activities, including
format development, profit turnaround and customer-focused
organisational change, will be especially relevant at this
stage in the Company's recovery. Roger Holmes' joining date
has yet to be confirmed.
David Norgrove, 52, is currently Chairman of Marks &
Spencer's Ventures Division, responsible for identifying and
implementing alliances, joint ventures and business
initiatives focusing on new channels and formats. His
appointment to the Board as Executive Director, Strategy,
International and Ventures broadens his role and recognises
his strong abilities in strategy development. His previous
career includes HM Treasury, where he rose to Assistant
Secretary; the First National Bank of Chicago; and Private
Secretary to Prime Minister Margaret Thatcher from 1985
until 1988, when he joined Marks & Spencer. He served as
director of Europe; Worldwide Franchising; Menswear and
Strategy before taking up his current role in September
1999.
Graham Oakley
Company Secretary
For Further information, contact:
Jane Lowe, Marks & Spencer's Corporate Press Office
020 7268 6656
Louis Hill, Marks & Spencer's Corporate Press Office
020 7268 6560
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