This week UK retailer Marks and Spencer (M&S) announced the appointment of e-commerce guru Laura Wade-Gery, who leaves rival Tesco after spearheading its online growth in recent years.
Wade-Gery’s arrival is consistent with plans by M&S chief executive Marc Bolland to more than double its internet sales to GBP1bn (US$1.6bn) – up from GBP413m in 2009/10.
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She will take up the post of executive director of multi-channel and e-commerce at M&S, having built up a reputation as chief executive of Tesco.com and Tesco Direct. Indeed, according to latest figures Tesco’s online sales for the six weeks to 8 January 2011 increased 18%.
Wade-Gery had also been lined up to become Tesco’s commercial director for Tesco’s UK clothing, electricals and general merchandise. But Per Bank, the current CEO of Tesco Hungary, has now been appointed to this role.
Wade-Gery, who is yet to start her new job at M&S, has also served as a non-executive director of publishing company Trinity Mirror since 2006. Last month, Tesco also appointed her tothe company’s new executive committee.
Here’s what the analysts told just-food about M&S’ latest hiring:
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Shore Capital analyst Clive Black
“Laura Wade-Grey is a high flyer, having established Tesco as the UK’s largest grocery e-commerce retailer. Grocery is the hardest sector to take on online and so her appointment will be a disappointment for Tesco. Equally though, the move is a great coup for Marc Bolland. Marks and Spencer needs a strategically better proposition, not only for clothing and general merchandise but also for food.”
Neil Saunders, analyst at Datamonitor’s retail arm, Verdict
“M&S has already put a lot of effort into improving its multi-channel offering and this appointment should help them accelerate non-store sales, first in the UK and over the medium term across the globe. A lot of the focus will need to be on understanding how stores and online work together and making the proposition across the two seamless from the customer point of view.”
Matrix retail analyst, Tom Gadsby
“Three Torreses and a Barton – that, at least, is what news of Laura Wade-Gery’s appointment to the M&S board added to the value of the company, some GBP185m. Given somewhat muted plans to roll out online sales at M&S, we think she may well add that to the sales line over and above existing plans. Certainly, Tesco will be sorry to see her go, and her strong track record in multi-channel retailing will make her a very useful addition to the M&S team.”
