Bolland to take over from Rose at Marks & Spencer in early 2010

After much criticism over its succession planning process Marks & Spencer has confounded the critics by naming big-hitter Marc Bolland as replacement for outgoing Sir Stuart Rose.

The Morrisons chief executive wil replace Rose in early 2010 and take on one of the biggest jobs in UK retail. The move will be a disapplintment to front-running insider contenders for the role head of food John Dixon and finance director Ian Dyson but will no doubt please shareholders and the shares moved up 4% on the news.

 

Bolland stated: “M&S is one of the world’s great brands and I am very pleased to be given the opportunity to lead the company forward at this exciting stage. I am greatly looking forward to working closely with Stuart and the M&S team.”

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