Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Marks & Spencer Grp (MKS)

  Print      Mail a friend       Annual reports

Thursday 07 January, 2016

Marks & Spencer Grp

Directorate Change

RNS Number : 0832L
Marks & Spencer Group PLC
07 January 2016







Marks and Spencer Group plc announces that Marc Bolland intends to retire in 2016 to be succeeded by Steve Rowe


Marks and Spencer Group plc today announces that Marc Bolland has informed the Board that, after six years in the role, he wishes to retire as CEO in 2016.


Marc will be succeeded as CEO by Steve Rowe, Executive Director of General Merchandise. Marc Bolland will remain CEO and on the Board until the end of the current financial year on 2 April 2016 when he will hand over to Steve Rowe. Marc will then remain available to Steve and the Board to assist in the transition until 30 June 2016.


In reaching its conclusion to appoint Steve Rowe as the next CEO of Marks and Spencer Group plc, the Nominations Committee set a rigorous assessment, development and selection process, including external benchmarking. The Board is grateful to Marc for his planning, enabling the Nominations Committee to work carefully and systematically on his succession.


Steve Rowe has been with Marks and Spencer Group plc for over 25 years and been a Board Member since 2012. Before joining the Board, Steve worked in a range of senior positions across the business including Director of Retail and E-commerce and various positions in General Merchandise. In 2012 he was appointed by Marc Bolland to the Executive team as Executive Director, Food and was appointed to the Board of Marks and Spencer Group plc. In particularly difficult market conditions Steve led the Food business to produce 12 consecutive quarters of like for like growth, grow its margin and all its key performance metrics, continue its record of outstanding innovation and set out a path for further profitable growth. In July 2015, Steve Rowe was appointed Executive Director, General Merchandise with a mandate to improve the overall performance of that business, building on the improved design and sourcing capabilities.


Robert Swannell, Marks and Spencer Group plc Chairman, said "Over the last six years Marc Bolland has led Marks & Spencer through a period of necessary change. Over this time, the company has made significant investment in enhanced infrastructure and capabilities.


"It is now positioned for a digital age, with its own on-line platform and dedicated e-commerce distribution centre, improved design and sourcing capabilities in General Merchandise and an industry-leading track record of growth and innovation in the Food business.  Marc has put Plan A at the heart of the business and leaves a strong sustainability legacy. The Board is very grateful to Marc for his leadership in this important period of enhancing Marks & Spencer's competitive position for its future.


"I am delighted that, after the most rigorous succession planning, Marc will be succeeded by Steve Rowe. Steve has a deep knowledge of Marks & Spencer and a proven track record of delivering results in key parts of the business. The Nomination Committee was unanimous in supporting Steve's appointment in the light of his considerable knowledge of the business and its people, his appetite to continue the process of change, particularly in General Merchandise, his perceptive and effective problem solving, his values and his observed leadership."


Marc Bolland said "It has been a huge honour to lead one of Britain's most iconic companies. I am delighted to handover to Steve Rowe as my successor. I have worked closely with Steve for six years and I am convinced that he will be a great leader for Marks & Spencer. I would like to thank all my colleagues and the Board at Marks & Spencer for being so supportive of the drive to prepare M&S for the future. I am proud to leave such a large group of talent behind in the business."


Steve Rowe said, "It is a great privilege to be appointed CEO of Marks & Spencer and to have the opportunity to lead this unique company and all its people forward."


Notes to Editors:


Media Conference Call:

This will be hosted by Marc Bolland, Chief Executive Officer at 07.10 on 7th January 2016:

Dial in number: +44 (0) 203 427 1909                                    Confirmation code: 4047703


A recording of this call will be available until 17th January 2016:

Dial in number: +44 (0)20 3427 0598                         Pass code: 4047703



Steve Rowe:

·    From 2 April 2016, Steve Rowe will receive a salary of £810,000 on his appointment as Chief Executive Officer. The overall variable incentive opportunity for the Chief Executive role will remain unchanged. All other terms of Steve Rowe's existing service agreement, including pension allowance, will remain unchanged.

Marc Bolland:

·    The following information is provided in accordance with section 430(2B) of the Companies Act 2006:

·    Marc Bolland's remuneration terms will be in line with his service agreement and the key provisions for contract termination as per Marks and Spencer plc's Executive Remuneration Policy approved by shareholders in 2014.


·    In line with Marc Bolland's service agreement, Marc Bolland will receive salary, benefits and pension benefits by way of phased monthly payments (subject to mitigation) up to the end of the notice period of 7 January 2017.


·    Marc Bolland will remain eligible for consideration for payment of an annual bonus for 2015/16, subject to performance.

·    Marc Bolland will not be eligible to participate in the Annual Bonus or Performance Share Plan awards for 2016/17.

·    Any unvested nil-cost options awarded to Marc Bolland under the Deferred Share Bonus Plan will vest in full on termination and may then be exercised in accordance with the Plan rules.

·    Any unvested nil-cost options awarded under the Performance Share Plan will be time pro-rated and will vest, subject to performance conditions on a wait and see basis at the normal vesting date and may then be exercised in accordance with the Plan rules.

Further details of the operation of the Deferred Share Award and Performance Share Plan are set out in the Directors' Remuneration Report in our Annual Report and Financial Statements 2015. Full disclosure of these remuneration arrangements will be provided in our Directors' Remuneration Report in 2016.


For further information, please contact:


Investor Relations:                                      

Majda Rainer:                          +44 (0)20 8718 1563

Helen Cox:                              +44 (0)20 8718 8491


Media enquiries:

Corporate Press Office:         +44 (0)20 8718 1919


- Ends -


This information is provided by RNS
The company news service from the London Stock Exchange

a d v e r t i s e m e n t