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LONDON, May 18 (Reuters) - British retailer Marks & Spencer
on Tuesday promoted food boss Stuart Machin and strategy
chief Katie Bickerstaffe as part of a major shake-up of its
leadership team's responsibilities.
M&S said the changes reflected the clothing and food group
moving on from the "fixing the basics" phase of its latest
turnaround plan to a phase that will see it reinvest and restore
growth.
Machin and Bickerstaffe will become joint chief operating
officers, reporting to CEO Steve Rowe.
Machin will continue as managing director of food but also
take oversight responsibility for operations, property, store
development and IT.
Bickerstaffe will oversee the data, services, clothing and
home and international businesses.
M&S said finance chief Eoin Tonge will also take on strategy
and transformation planning.
It said Sacha Berendji, currently retail, operations and
property director, will move to focus on the future of M&S's
store estate.
Richard Price and Paul Friston will remain as managing
directors of clothing and home and international respectively.
M&S was struggling to reinvent itself after decades of
failed attempts before the COVID-19 pandemic hit.
A year ago it said the crisis would indelibly change its
business and it would speed-up its latest turnaround plan,
delivering three years of change in one.
In August, M&S cut 7,000 jobs and in November it reported
the first loss in its 94 years as a publicly listed company.
(Reporting by James Davey; editing by Jason Neely)
