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Marks & Spencer chief's dash for the door is perfectly timed

Discussion in 'Market News' started by Lily, Jan 7, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    Marc Bolland’s reign was better than critics suggest, but six years is a long time for a FTSE 100 boss

    Marc Bolland’s dash for the exit at Marks & Spencer is well-timed. He could, almost certainly, have survived yet another set of dire clothing sales figures because the food division continued its strong run over Christmas. What’s more, the chairman, Robert Swannell, has never seemed the axe-wielding type.

    A departure in April suits all parties. Bolland gets to choose his moment and can point out correctly that six years counts as a long stint for a FTSE 100 chief executive these days. The new boss, Steve Rowe, who did four good years in food, had seemed earmarked for the top job since he was switched last July to clothing. Best to get him in post before his food halo slipped with the rotten 5.8% like-for-like decline in general merchandise over the festive period.

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