Marks & Spencer has appointed a new finance director in the form of John Lewis's Helen Weir.
Weir will take up her role after working her six-month notice period at John Lewis, where she has been the finance director for less than three years.
Her appointment follows a four-month search by M&S for a replacement for Alan Stewart, who handed in his notice in July to take up a role at Tesco.
M&S chief executive Marc Bolland said Weir, who is also a non-executive director of SABMiller, is "extremely well qualified" and "brings a wealth of relevant financial, retail and consumer experience".
Weir, who used to be head of retail at Lloyds, added: "This is an exciting time to be joining the company and I am delighted to be part of the team."
Well, shouldn't be to difficult for them to make money shorting mks at this-those levels. Even bod is selling out, they have no confidence in their own business - sp recovering short-mid or long term. They could've waited few days-weeks and not make it so obvious, but they didn't, they wanted to sell at the peak never mind shareholders high hopes for recovery.
Prince, you hit the nail on the head, M&S is only thought in terms of the food these days, they are not the general retailer they built there brand on many years ago, people are still nostalgic about the place, but the food apart, what is M&S these days. Affectively its competition is with John Lewis/Waitrose partnership and compare their figures over the last year or so.... Ask yourself, what do you go into M&S for these days other than the odd microwave meal and some socks :) Do you go in there to buy a TV, Homeware, a present for the other half or a pricey suit??? JL/Waitrose for the quality of product and customer service I feel is streets ahead and that's M&S problem....???
Exec, this one has been a good ride, not sure I'll be holding at this level, it looks like its gone too far too soon on weak fundamentals, 'Motely fool' seem to feel that and with the $100million short still showing, perhaps we'll see profit taking, a continuation of the down trend and a move to the 200 day moving average at circa 444p. DYOR GLA
M & S food to sainsburys(motley fool) - Thats like comparing a BMW to a ford escort. M & S food far superior - no question about it - even my kids who worked at sainsburys agree with that. Motley fool is just that - A FOOL.
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