GreenRoc now on the EU radar after presentation on Amitsoq at the Greenland Business Mission. Watch the interview here.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Sponsored Content

Pin to quick picksMarks & Spencer Regulatory News (MKS)

Share Price Information for Marks & Spencer (MKS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 369.70
Bid: 371.00
Ask: 371.20
Change: -0.60 (-0.16%)
Spread: 0.20 (0.054%)
Open: 370.80
High: 373.50
Low: 368.40
Prev. Close: 370.30

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Directorate Change

18 Apr 2018 15:09

RNS Number : 3670L
Marks & Spencer Group PLC
18 April 2018
 

 

 

 

Issued: 18 April 2018

Press Release

 

Next step in reorganisation of M&S management

and Director departure

 

M&S today announced a further step in its programme to reorganise into a family of accountable businesses. As a result, the corporate marketing teams will be devolved into the Clothing & Home and Food businesses. Once this is complete, Patrick Bousquet-Chavanne, who has served on the board for the last six years will be leaving the business. He steps down from the board today and will leave M&S at the end of May.

 

Steve Rowe, Chief Executive, said: "Patrick has overseen some extraordinary marketing programmes for M&S corporately and made great strides in laying the foundations of our digital business as well as extending our Plan A credentials. He brought great brand marketing skills and creativity to the business. We thank him for his contribution and wish him well for the future."

 

Patrick Bousquet-Chavanne said: "Leading M&S's global marketing agenda and, most recently, our digital transformation at a time of complex retail industry changes has been highly fulfilling. M&S is a very special brand with a powerful relationship with the British public. Its future is in great hands with Steve's dynamic leadership of the business transformation."

 

A central plan of this first stage of M&S's transformation programme is to move towards a faster more commercial M&S built around a family of accountable businesses, each with its own top calibre leadership. This means that much of corporate marketing will now report to the Marketing Directors of Clothing & Home and Food, under Jill McDonald and Stuart Machin respectively.

 

Initial steps towards this have already been taken with the appointment of Sharry Cramond from Southeastern Grocers to head up Food Marketing, and the appointment of Nathan Ansell to run Clothing & Home Marketing.

 

A streamlined central marketing team looking after the digital information and data services that support both main businesses and also the oversight of new development businesses, primarily in the digital space, will be retained.

-Ends-

 

Remuneration:

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

· Patrick Bousquet-Chavanne's remuneration terms will be in line with his service agreement and the relevant provisions of the Marks and Spencer Group plc's Executive Remuneration Policy approved by shareholders in 2017.

Patrick Bousquet-Chavanne will receive salary and benefits, including pension, by way of phased monthly payments (subject to mitigation) for up to nine months from May 2018 to 28 February 2019 at the latest.

· He will not be eligible to participate in the Annual Bonus or Performance Share Plan awards for 2018/19.

· Any unvested conditional awards granted to Patrick Bousquet-Chavanne under the Deferred Share Bonus Plan will vest in full on termination.

· Any unvested conditional awards granted 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. 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.

 

For further information, please contact:

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

Out of hours calls: +44 (0)20 8718 2000

 

 

Notes to Editors:

Making M&S Special 

In November 2017 Marks & Spencer set out a five year transformation programme for the business concentrating on Restoring the Basics, Shaping the Future and Making M&S Special. 

 

Under this transformation programme, Making M&S Special, M&S has to date announced:

· A slowdown in the Simply Food store opening programme

· An acceleration of the UK store estate closure programme

· The sale and franchise of its retail business in Hong Kong and Macau

· A new Technology Transformation Programme

· Improvements to its Clothing & Home Logistics Network

· The restructure of the Customer, Marketing & Digital Team

· New customer insight partnership with Starcount

· The appointment of a new Food Managing Director

· The merging of its Retail & Property functions

· A New leadership team responsible for overhauling Clothing & Home business

 

People & Structure Changes

Since Steve Rowe became CEO in April 2016, M&S has set about streamlining and changing its operational and leadership structure. The Clothing & Home and Food businesses have been established as two separate businesses, with strong management teams and full P&L accountability.

 

Additionally, the senior leadership team has been strengthened with senior hires, including:

· David Guise, HR Director, appointed October 2016

· Mel Smith, Strategy Director, appointed May 2017

· Jill McDonald, Clothing & Home MD, appointed October 2017

· Victoria Self, Digital Director, appointed January 2018

· Sharry Cramond, Food Marketing Director, appointed January 2018

· Lawrence Christensen, Independent Advisor on Supply Chain, appointed March 2018

· Julian Richer, Independent Advisor on Culture Change, appointed March 2018

· Stuart Machin, Food MD, joining April 2018

· Humphrey Singer, CFO, joining July 2018

 

 

 

 

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
BOAGMGMDDRNGRZM
Date   Source Headline
1st Oct 20249:00 amRNSTotal Voting Rights
30th Sep 202412:35 pmRNSDirector/PDMR Shareholding
26th Sep 202410:05 amRNSDirectorate Change
18th Sep 202411:53 amRNSDirector/PDMR Shareholding
2nd Sep 20249:00 amRNSTotal Voting Rights
30th Aug 202410:37 amRNSDirector/PDMR Shareholding
29th Aug 20249:00 amRNSDirector/PDMR Shareholding
20th Aug 202411:05 amRNSDirector/PDMR Shareholding
8th Aug 202411:30 amRNSConfirmation of CFO appointment date
1st Aug 20249:00 amRNSTotal Voting Rights
31st Jul 20249:00 amRNSDirector/PDMR Shareholding
8th Jul 20242:37 pmRNSDirector/PDMR Shareholding
3rd Jul 20244:45 pmRNSDirectorate Change
3rd Jul 20244:11 pmRNSDirector/PDMR Shareholding
2nd Jul 20241:30 pmRNSResult of AGM
1st Jul 20249:00 amRNSTotal Voting Rights
1st Jul 20249:00 amRNSBlock listing Interim Review
28th Jun 20245:55 pmRNSDirector/PDMR Shareholding
27th Jun 20244:51 pmRNSHolding(s) in Company
25th Jun 202411:26 amRNSDirector Declaration
3rd Jun 202410:00 amRNSAnnual Financial Report
3rd Jun 20249:00 amRNSTotal Voting Rights
30th May 202412:41 pmRNSDirector/PDMR Shareholding
29th May 20244:01 pmRNSCFO announcement
29th May 20242:07 pmRNSDirector/PDMR Shareholding
28th May 20242:04 pmRNSAndrew Fisher to stand down from the Board
22nd May 20247:00 amRNSFinal Results
1st May 20249:00 amRNSTotal Voting Rights
30th Apr 20241:13 pmRNSDirector/PDMR Shareholding
2nd Apr 20249:00 amRNSTotal Voting Rights
28th Mar 20245:23 pmRNSHolding(s) in Company
28th Mar 20243:07 pmRNSDirector/PDMR Shareholding
26th Mar 20243:07 pmRNSDirector/PDMR Shareholding
7th Mar 20243:16 pmRNSHolding(s) in Company
7th Mar 20248:40 amRNSKatie Bickerstaffe - Planned Leadership Evolution
4th Mar 20243:11 pmRNSDirector/PDMR Shareholding
1st Mar 20249:00 amRNSTotal Voting Rights
28th Feb 20241:43 pmRNSDirector/PDMR Shareholding
16th Feb 20249:00 amRNSDirector Declaration
1st Feb 20249:00 amRNSTotal Voting Rights
30th Jan 20242:53 pmRNSDirector/PDMR Shareholding
15th Jan 20244:00 pmRNSDirector/PDMR Shareholding
15th Jan 20242:36 pmRNSHolding(s) in Company
11th Jan 20247:00 amRNSChristmas 2023/2024 Trading
10th Jan 20243:28 pmRNSChange To Board Committee Membership
5th Jan 20244:23 pmRNSHolding(s) in Company
2nd Jan 20249:00 amRNSBlock listing Interim Review
2nd Jan 20249:00 amRNSTotal Voting Rights
28th Dec 202311:40 amRNSDirector/PDMR Shareholding
20th Dec 202311:36 amRNSHolding(s) in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Track Your Investments

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.