Marks & Spencer Regulatory News (MKS)

Issued: Wednesday 10 January 2018

Press Release

Marks and Spencer Group plc appoints Chief Finance Officer

Marks and Spencer Group plc (M&S) announces the appointment of Humphrey Singer to its Board as Chief Finance Officer. Humphrey, who is currently Group Finance Director at Dixons Carphone plc, will take up his appointment on a date to be confirmed.

Humphrey has been Group FD of Dixons Carphone plc since 2014 following the merger of Dixons Retail with Carphone Warehouse Group. He became Group Finance Director of Dixons in 2011, having held several other finance roles since joining the company in 2007. Humphrey's early career included finance roles at Cadbury Schweppes plc and Coca-Cola Enterprises UK Limited. Humphrey is a Non-Executive Director at Taylor Wimpey plc.

Steve Rowe, Chief Executive, M&S, said: "As we embark on our five-year transformation programme, Humphrey will be a great addition to the top team. His experience as part of the team that led Dixons through its period of change and migration to multi-channel retailer is most relevant to what we are undertaking here. This, coupled with his retail expertise and eye for detail and cost, will be very important to our team dynamic as we move forward."

Humphrey Singer said: "Under Steve M&S is changing and there's no better time to be joining the team that is transforming the business."

Humphrey will replace Helen Weir who, as previously announced, is leaving M&S to pursue a portfolio career. Today her leaving date is confirmed as 31st March 2018.

Steve Rowe added: "I'd like to take this opportunity to thank Helen for her significant contribution to M&S over the last three years and wish her all the very best for the future."

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For further information, please contact:

Enquiries:

Media +44 (0) 208 718 1919

Investor Relations +44 (0) 203 884 70 80

Notes to Editors:

Remuneration

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

Humphrey Singer

· On appointment Humphrey will receive an annual salary of £600,000 with no further fixed-pay cash benefits or allowances.

· In accordance with M&S' remuneration policy, he will be eligible to participate in the Annual Bonus Scheme and Performance Share Plan in line with his start date.

Helen Weir

· Helen Weir's remuneration terms will be in line with her service agreement and the relevant provisions of the Marks and Spencer Group plc's Executive Remuneration Policy approved by shareholders in 2017.

· Helen Weir will continue in her role until 31 March 2018 and, in line with her service agreement, she will receive salary and benefits, including pension, by way of phased monthly payments (subject to mitigation) from 1 April until 8 November 2018, reflecting the remaining period of contractual notice.

· Helen Weir will remain eligible for consideration for payment of an annual bonus for 2017/18, subject to performance.

· Any unvested nil-cost options awarded to Helen Weir 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 in 2015 and 2016 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. The award made in 2017 will lapse on leaving in accordance with the Plan rules.

Further details of the operation of the Deferred Share Bonus Plan and Performance Share Plan are set out in the Directors' Remuneration Report in our Annual Report and Financial Statements 2017. Full disclosure of these remuneration arrangements will be provided in our Directors' Remuneration Report in 2018.

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