Marks & Spencer share price: Marketing boss to step down next month

Patrick Bousquet-Chavanne unveils departure on Twitter

Marks & Spencer share price: Marketing boss to step down next month

Marks & Spencer Group’s (LON:MKS) marketing boss is due to step down next month, it has emerged. Patrick Bousquet-Chavanne’s departure, first announced on Twitter, comes amid an ongoing shake-up under chief executive Steve Rowe and chairman Archie Norman.

Marks & Spencer’s share price was little changed in the previous session, inching 0.11 percent to close at 281.30p, underperforming the broader market rally which saw the benchmark FTSE 100 index end the session more than one percent higher. The group’s shares are down by a little over a fifth over the past year.

Marketing boss stepping down

M&S’ marketing boss Patrick Bousquet-Chavanne announced on Twitter yesterday that he would be departing the blue-chip retailer at the end of next month.

“Extremely proud of the accomplishments of an amazing team of talented marketing, digital and sustainability colleagues that I have been privileged to lead over the past 6 years,” he tweeted. The retailer confirmed his departure in a statement later, adding that its corporate marketing teams will be devolved into the Clothing & Home and Food businesses.

Ongoing shake-up at M&S

Bousquet-Chavanne’s departure marks the latest in a string of changes at the blue-chip retailer, which include poaching Steinhoff UK’s boss to head its Food division, which has recently suffered from declines in sales. Last year, the FTSE 100 group named Archie Norman as chairman, and brought in former Halfords chief Jill McDonald to help revive its clothing, beauty and home sections.

M&S has also been reorganising operations, announcing plans to close up stores and recently inking a deal to sell its Hong Kong arm. Earlier this week, the retailer said that it would shut its distribution centre in Warrington as it looks to consolidate its network.

As of 09:16 BST, Thursday, 19 April, Marks and Spencer Group Plc share price is 279.80p.

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