After releasing the trading statement for the third quarter with disappointing merchandise sales, Marks and Spencer (M&S) CEO, Marc Bolland expressed his desire to step down from the role. After six years in the position, Bolland will retire this year. Steve Rowe, Executive Director of General Merchandise will now step into Bolland’s role. Marc Bolland will remain CEO and on the Board until the end of the current financial year on April 2, 2016 when he will hand over to Steve Rowe.

Steve Rowe has been with Marks and Spencer Group plc for over 25 years and been a Board Member since 2012. Before joining the Board, he worked in a range of senior positions across the business including director of retail and e-commerce and various positions in general merchandise.

In 2012 he was appointed by Bolland to the executive team as executive director, Food and was appointed to the Board of Marks and Spencer Group. In particularly difficult market conditions Rowe led the Food business to produce 12 consecutive quarters of like for like growth, grow its margin and all its key performance metrics, continue its record of outstanding innovation and set out a path for further profitable growth. In July 2015, he was appointed executive director, general merchandise with a mandate to improve the overall performance of that business, building on the improved design and sourcing capabilities.

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