UK retail giant Marks and Spencer has announced the appointment of Marc Bolland as its new chief executive, where he will replace Sir Stuart Rose.
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Bolland joins from rival supermarket Morrisons where he was chief executive. He will take up his position in the New Year at a time and on terms to be confirmed.
M&S chairman Sir Stuart Rose said: “I am delighted that Marc is to be M&S’ next chief executive. He brings a wealth of consumer marketing experience and has made a great success of his time at Morrisons.
“We very much look forward to welcoming him and working together.”
Bolland said: “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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By GlobalDataOn Marc taking up his position as M&S’s new chief executive, Sir Stuart will continue as part-time chairman of M&S to ensure a smooth transition, the company said.
As previously announced, Sir Stuart is scheduled to leave M&S by July 2011.
Bolland joined Morrisons in September 2006 as chief executive. Prior to that he was COO and executive board member at Dutch brewing giant Heineken. He is also currently a non-executive director of Manpower in the USA.
