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Marks & Spencer Group PLC - London-based retailer - Announces the appointment of International Consolidated Airlines Group SA subsidiary British Airways Chief Executive Officer Sean Doyle to its board, effective from December 1. This follows M&S’s announcement in late October that former Asda CEO Roger Burnley will join the board of M&S at the same time. M&S Chair Archie Norman says: ‘We are delighted to have one of the UK’s leading serving chief executive’s join our board. M&S is the most public of public companies, and Sean will bring great leadership and strong operating skills to M&S as we prepare for the next phase of reshaping.’
British Airways CEO Doyle says: ‘Being the CEO of Britain’s flag carrier is a very special job, as you are the custodian of a brand which is part of the fabric of the country. Not many brands can equal that, but M&S certainly can. I am privileged to be joining a board focused on ’protecting the magic’ of the brand as it modernises the business through the Reshaping for Growth strategy and look forward to supporting the next phase.’
Current M&S stock price: 370.40 pence, down 0.5% on Wednesday morning in London
12-month change: up 1.4%
Current IAG stock price: 386.86 pence, up 1.1%
12-month change: up 63%
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