Marks & Spencer hires new clothing and homewares managing director
Marks & Spencer has hired Richard Price, Tesco’s chief executive of F&F Clothing, as the new managing director of its clothing and homewares offering.
Prior to Tesco, Price was managing director of BHS. He also previously worked with M&S from 2005 to 2012 but left the business after becoming disillusioned about its future direction.
In M&S’s half year results last month, the company announced that clothing and home like-for-like sales had declined by 5.5%.
Commenting on Price’s appointment, Steve Rowe, M&S chief executive, said, “Richard’s career spans some of the UK’s top clothing brands and he has a proven track record of delivering growth through stylish, great value product. We are building a team of world class talent in clothing and home and, with Richard coming on board, I am confident that the speed and scale of the transformation of the business will accelerate.”
The company said Price will start his new role next year although a joining date has yet to be confirmed.
Price said: “Marks & Spencer clothing and home is a great business which still has strong brand affection and huge potential. I left the business because I felt it was drifting in the wrong direction but now feel we have a real chance to make it special again. The new team has already started to improve product and value and I am looking forward to working with them.”
Photo by Georgia Hawkins
