Finance
Britain's M&S extends Archie Norman's tenure as chair to 2029
Published by Global Banking & Finance Review®
Posted on October 14, 2025
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on October 14, 2025
2 min readLast updated: January 21, 2026
Marks & Spencer extends Archie Norman's chairmanship to 2029, citing his pivotal role in the company's revival and shareholder support.
LONDON (Reuters) -British retailer Marks & Spencer said on Tuesday it has extended Archie Norman's tenure as chairman for three more years from September 2026, saying the decision has the "widespread support" of shareholders.
Norman, who started as chairman in 2017, is widely credited with playing a key role in the revival of M&S' performance and its share price in recent years.
Under Britain's corporate governance code, a chair is expected to step down nine years after joining the board, unless companies can explain why an extension is justified.
Norman reaches the nine years mark in September next year.
"The board is unanimous in its conviction that his continuation as chairman is in the best interests of the company and there is widespread support for this view across the shareholder base," M&S, which is recovering from a damaging cyber attack in April, said.
It said Norman's term extension will be subject to an annual review by a committee of independent directors and no major change of circumstances.
"There remains much to do, and Archie's deep knowledge of the business, drive and unique experience will be invaluable as we move to the next phase of the 'Reshaping for Growth' plan," Senior Independent Director Fiona Dawson said.
(Reporting by James Davey in London and Raechel Thankam Job in Bengaluru and Sarah Young)
Corporate governance refers to the systems, principles, and processes by which companies are directed and controlled. It encompasses the relationships among the stakeholders, including the board of directors, management, shareholders, and other parties.
A chairman is the head of a company's board of directors. They are responsible for leading board meetings, ensuring effective governance, and representing the company to stakeholders.
A cyber attack is a malicious attempt to damage, disrupt, or gain unauthorized access to computer systems, networks, or devices. These attacks can result in data breaches, financial loss, and reputational damage.
A term extension refers to the prolongation of a person's tenure or contract duration in a specific role or position, often requiring approval from relevant stakeholders or governing bodies.
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