Marks and Spencer (M&S) has restructured its Board and launched four new core values.
- UK Retail has been added to the responsibilities of Laura Wade Gery, Multichannel Executive Director.
- Retail Director Sacha Berendji, will report to Laura.
- International Business has been added to the responsibilities of Patrick Bousquet-Chavanne, Executive Director for Marketing & Business Development.
- Costas Antimissaris, current Business Development Director, International, has been appointed International Director, reporting to Patrick.
- Jan Heere, current International Director, is leaving the business to return to Russia. He was in charge of the retailer’s expansion and was in charge for the roll-out of the first stores in Netherlands.
- UK Retail and M&S International will be represented at Board level in an aim to increase accountability and responsibility across the business.
- Operating profit responsibility has been delegated to Food Executive Director Steve Rowe, General Merchandise Executive Director John Dixon as well as to Multichannel and UK Retail Director Laura Wade Gery and Marketing & Business development and International Business Director Patrick Bousquet-Chavanne.
- Alan Stewart, Chief Finance Officer, adds Property to his financial asset management responsibilities.
- Hugo Adams, currently Executive Assistant to Marc Bolland, has been appointed as Property Director, and will report to Alan.
- M&S has also announced the launch of four internal core values: Inspiration, Innovation, Integrity and In-Touch to drive accountability, streamline processes, encourage cooperation and promote swifter decision making and speedier response to customer needs.
This move comes at a difficult time for M&S as UK General Merchandise sales continue to remain under pressure and these changes indicate an important turning point for the retailer.