Marks & Spencer chief executive Steve Rowe is to step down in May.
Mr Rowe will depart after what the company described as “six successful years” during which he has battled to transform the fortunes of the high street stalwart – while closing stores and axing thousands of jobs.
He will hand over to new chief executive Stuart Machin, who currently leads the company’s food business, and will be assisted by Katie Bickerstaffe, who leads the clothing and home division and who will be known as co-chief executive.
