Co-CEOs to replace Rowe at helm of M&S
A former executive at energy firm SSE is to become the co-CEO of Marks & Spencer succeeding chief executive Steve Rowe who is standing down after six years in the job.
Katie Bickerstaffe will share the top job with Stuart Machin. The pair are currently joint chief operating officers.
Mr Rowe, who joined M&S at the age of 15, will leave after the company’s annual results on 25 May. He will remain an adviser to the company for a further year.
Mr Machin will take on responsibility for day-to-day leadership of the business and the executive committee, store development, HR and corporate communications.
Ms Bickerstaffe will have a focus on driving the group’s strategy of selling across multiple platforms.
She will retain her existing portfolio including responsibility for clothing & home, MS2, international and financial services.
She was previously executive chairman of SSE Energy Services where she led its separation from SSE until its subsequent sale to OVO. In 2018 she had been hired by SSE from Dixons Carphone to become the first female chief executive of a UK energy company via the merger of the retail business with nPower, but talks were terminated in December of that year.
She is a non-executive director of the England and Wales Cricket Board and Barratt Developments.
Both Mr Machin and Ms Bickerstaffe will join M&S’s PLC board on 25 May.
Chief financial officer Eoin Tonge will become chief strategy & finance officer and will play an enhanced role in leading the development of the business.