11 March 2022, Mumbai:
Steve Rowe will step down as chief executive of Marks & Spencer (MKS.L) in May after six years in the job, with the British retailer opting for continuity by choosing two of his senior lieutenants as his successor.
Rowe, who joined M&S at the age of 15 before rising through the ranks, will step down after the food and clothing retailer reports annual results on May 25.
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His tenure in one of the most high-profile jobs in British business has been turbulent as he, along with chairman Archie Norman, has sought to transform M&S by improving the quality and value of its clothing and food products, overhauling its store estate, and investing heavily in technology and e-commerce, including a venture with Ocado Group Plc (OCDO.L) that took M&S food online for the first time.
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CREDITS: Reuters.
