Stuart Machin, the company’s current food managing director and chief operating officer, has been appointed CEO.
By 25th, Next Wednesday, Steve Rowe will step down as chief executive of Marks & Spencer (MKS.L) after six years, ending a 39-year career at the British retailer.
He will be succeeded in one of the most high-profile jobs in British business by M&S’s food boss and joint chief operating officer Stuart Machin, who will become chief executive and take on responsibility for day-to-day leadership of the business and executive committee.
Machin joined the chain as food managing director in April 2018 and was named joint chief operating officer last May. M&S is Britain’s fastest-growing food retailer apart from discounters Aldi and Lidl.
Machin previously held senior roles at Sainsbury’s, Tesco and Asda and spent ten years in Australia with Coles and Target.
He resigned as managing director of Target after concerns were raised about its accounting for commercial income. M&S chairman Archie Norman and former BT chairman Jan du Plessis are among his mentors.