Marks & Spencer extends chairman role

Department store Marks & Spencer has decided to extend the tenure of its current chairman Archie Norman as it moves into the next phase of its ongoing growth strategy. The move, which remains subject to shareholder approval at the company’s AGM, will extend Norman’s role for three years from September 2026.

Norman, whose role will continue to be under annual review, started as the retailer’s chairman in 2017. This extension will therefore see him reach the "comply or explain” nine-year point in 11 months time.

The decision to extend was made after a consultation with shareholders, executives and advisers, a press release noted, who ultimately emerged unanimous on the agreement that Norman’s continuation was in the best interests of the company.

Marks & Spencer said that while it had recently strengthened its executive team, there was still a long way to go in delivering its ‘Reshaping for Growth’ strategy. It would therefore "benefit from the continued strong leadership and stability Archie’s chairmanship will bring”.

Board member Fiona Dawson said in a statement: “Archie has been an exceptional Chair, steering an effective, engaged Board and putting in place a highly capable leadership team under [CEO, ed.] Stuart Machin which is transforming M&S and building a stronger, better business.

“There remains much to do, and Archie’s deep knowledge of the business, drive and unique experience will be invaluable as we move to the next phase of the Reshaping for Growth plan.”