Marks and Spencer’s announces shake-up to its top-level leadership, offering potential for change following positive first quarter financial results.
The British retailer has announced that John Dixon, Executive Director, General Merchandise, will step down from their board of directors on an as yet undisclosed date to pursue a career outside of the firm. He will be replaced by Steve Rowe as head of general merchandise with Andy Adcock, currently Trading Director, Food, stepping up to be Director of Food, reporting to Marc Bolland on an interim basis.
On the subject of his departure Dixon indicated that his departure from the firm was voluntary and amicable.
‘I have thoroughly enjoyed many happy and successful years at M&S. I now have the opportunity to become a Chief Executive and have therefore resigned from this great company. I wish it, and all my colleagues, every continued success.’
This will doubtless be a blow to the firm, which has recently reported a strong first quarter financial result, particularly in their food department with sales increasing by 3.2%. General merchandise did not fare as well with a 0.2% increase on last year reported in sales.
These results were reported earlier this month, with Marc Bolland, Chief Executive of the firm making it clear that the firm was pleased with the outlook.
‘We continue to make progress against our key priorities. Our Food business did very well in a difficult market. In General Merchandise, sales were broadly level on last year and we are on track to deliver the planned increase in gross margin. M&S.com performance was very strong, with customers appreciating all the improvements to our website.’