December 13, 2016 / 10:46 AM / a year ago

M&S says chairman to retire in 2017

LONDON, Dec 13 (Reuters) - British retailer Marks & Spencer said on Tuesday its chairman Robert Swannell has informed the board he plans to retire in 2017, having served six years in the post.

The clothing and food group said Vindi Banga, its senior independent director, would lead a process to identify and appoint the next chairman.

Swannell will continue in his role until this process is complete.

“A year ago we chose Steve Rowe as our chief executive. Steve completed a thorough analysis of the business and developed a detailed plan to build a simpler and more relevant M&S,” said Swannell.

“This plan is now underway and I feel that it is the right time for the business to look for a new chairman.” (Reporting by James Davey; editing by Sarah Young)

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