Connect with us

Business

Britain’s M&S promotes Machin and Bickerstaffe in top team shake-up

Britain's M&S promotes Machin and Bickerstaffe in top team shake-up

LONDON (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)

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Recommended

Newsletters with Secrets & Analysis. Subscribe Now