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Marks & Spencer to lose two experienced executives

Mon, 24th Mar 2014 22:24

By James Davey and Richa Naidu

March 24 (Reuters) - Marks and Spencer said onTuesday that two of its most experienced directors would leavethe business this summer.

Both Darrell Stein and Clem Constantine, directors of IT andproperty respectively, have been with M&S since 2006, accordingto the company's website.

"Their roles have significantly changed recently; Darrelldeveloped our new e-commerce platform, which has now beendelivered and, as announced at our interims, we will be puttingon less GM space, which changes our property focus," an M&Sspokeswoman said.

Industry data showed last week that M&S had lost share in the British fashion market over the last three months, pilingpressure on Chief Executive Marc Bolland, who has presided over10 straight quarters of declining underlying sales in M&S'sgeneral merchandise division. (Reporting by Richa Naidu in Bangalore and James Davey inLondon; Editing by Steve Orlofsky)

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