Marks & Spencer Group PLC on Tuesday announced the extension of Archie Norman’s tenure as chair for another three years.
The London-based retailer said the extension will last for three years from September 2026 and will be subject to a comprehensive annual review by a committee of independent directors. Norman has been chair since 2017.
M&S said: ‘The board is unanimous in its conviction that his continuation as chairman is in the best interests of the company and there is widespread support for this view across the shareholder base. M&S is a rapidly changing business with a recently strengthened executive team but there is a long way to go in delivering the Reshaping for Growth strategy and the company will benefit from the continued strong leadership and stability Archie’s chairmanship will bring.’
Senior Independent Director Fiona Dawson said: ‘Archie has been an exceptional chair, steering an effective, engaged board and putting in place a highly capable leadership team under [Chief Executive Officer] 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.’
M&S shares rose 1.4% to 402.09 pence each on Tuesday morning in London. Its shares are 5.1% higher than a year ago, and have multiplied from 91.16p five years ago.
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