CEO Marc Bolland resigns at Marks & Spencer

CEO Marc Bolland resigns at Marks & Spencer

Marc Bolland, CEO at British chain Marks & Spencer, has decided to resign after it became clear that his plans to re-energize the chain did not catch on.

Turnover slide

Bolland had been with Marks & Spencer since 2010 and was charged with boosting the chain's sales. The once popular British chain has lost a lot of its shine as the years went by and he was asked to rekindle the flame.

 

However, Bolland's new strategies did not seem to catch on and he has now thrown in the towel after a disastrous holiday season. The like-for-like turnover within "general merchandise", Marks & Spencer's most important category, dropped 5.8 % during the holidays, even more than anticipated.

 

Marks & Spencer general merchandise's executive director Steve Rowe will take Marc Bolland's place. He started out as an employee on Saturday and rose the ranks over the past 25 years.

 

Bolland will stay in office until 2 April and will advise until 30 June. After that, he will leave Marks & Spencer.

Questions or comments? Please feel free to contact the editors


Turnover for 100 largest web shops in Belgium grows 13.5 %

16/11/2017

Turnover for the top 100 web shops in Belgium grew 13.5 % from 3.7 to 4.2 billion euro. Digital sales for food items and household products have increased considerably.

Barbie rejects G.I. Joe & co (for now?)

16/11/2017

Toy giant Mattel has allegedly turned down competitor Hasbro’s bid, according to press agency Reuters’ anonymous sources close to the deal. It is still unclear what the repercussions would be.

Henkel increases full-year turnover forecast

15/11/2017

For the first time ever, Henkel will pass the fifteen billion euro turnover milestone for the first nine months of the year. The company will also increase its turnover and profit forecast on the back of these excellent performances.

Singles' Day alters the global retail calendar, even here

14/11/2017

Move aside Christmas turnover, Singles’ Day is the world’s largest shopping holiday – by far. Alibaba generated a 22 billion euro turnover in a single day and even Bol.com took advantage of the day. Are we heading to a new retail calendar?

Avoid long waiting lines at cash registers thanks to Google Maps?

13/11/2017

Google will add a new option to its Maps app on 23 November: users will then be able to assess how much time they will lose at the cash register.

This is how online retailers can beat Amazon Prime

13/11/2017

Market research firm SmarterHQ says Amazon’s bond with consumers is razor-thin and they would quickly abandon their subscription if the advantages proved to be too meagre. This should present opportunities to the competition.

Back to top