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M&S gets two new directors

Katie Bickerstaffe and Pip McCrostie have joined M&S. Bickerstaffe is the outgoing boss of Dixons Carphone’s UK business. McCrostie brings extensive experience in finance and transactions from a career at Ernst & Young where she transformed and led the Global Corporate Finance business.

Under-pressure M&S has beefed up its board with two new non-executive directors offering the kind of retail and business experience it needs. It's believed that the retailer will accelerate its store closure program as sales continue to fall. The retailer has been encouraged by results so far where store closures haven't seen sales in those areas plunging. Instead, shoppers have switched to other M&S stores nearby.

The number of full line (i.e. those selling both general merchandise and food) store closures will rise to 100 from the 60 originally planned. M&S reset its strategy in November. The plan is to speed up store closures, accelerate the relocation and downsizing of other stores, and reposition its food offering. This year it has also detailed changes to its technology function, clothing and home logistics and food marketing.

Jill McDonald was appointed in October as clothing and home managing director. She has been tasked with delivering the sustained sales and profit growth that has eluded Britain’s biggest clothing retailer for a decade.

 

 
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