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The boss of Marks & Spencer is OUT after another tough Christmas

The CEO of Marks & Spencer, Marc Bolland, listens during the Reuters Global Retail and Consumer Summit in London September 13, 2012.

After years of speculation as to how long he can stay in the job, Marc Bolland is finally ending his time as CEO of Marks & Spencer.

On Thursday, the retailer confirmed in a statement that Bolland will be retiring in April, to be replaced by Steve Rowe, a 25-year M&S veteran who currently heads the general merchandise division (which for M&S mostly means clothes).

Bolland will be paid up till the end on January 2017, in line with his notice period, and could still get a bonus under the 2015/16 scheme.

Bolland took over as boss of M&S in 2009 but read more >>>

Source : BusinessInsider.Com