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Robert Swannell new M&S chairman
Wed, 08 Feb, 2012
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Robert Swannell new M&S chairman
Mon, 23 Aug 2010, 11:13:00
Robert Swannell, a former banker, has been confirmed as the new chairman of <b>Marks & Spencer</b> on Monday. Swannell, an advisor and former chairman of Citigroup's European investment bank, will take over the top job at the clothes and food retailer when Sir Stuart Rose steps down next year. He will join the board on 4 October as a non-executive director before taking up his position as chairman on 4 January 2011. Chief executive Marc Bolland said: "Robert will be an excellent Chairman for us. He has strong complementary skills and I am very much looking forward to working with him." Swannell is currently chairman of the CD and DVD retailer HMV. His work at Citigroup has seen him advise M&S, notably when he helped it fend off a bid from retail magnate Sir Philip Green in 2004. His appointment at M&S is likely to fuel speculation that some kind of corporate activity may be in the offing. Having helped M&S fend off predatory advances Swannell could steer the High Street giant towards looking for acquisitions. Earlier this month the group announced the appointment of Alan Stewart, former chief financial officer at the stationery retailer WH Smith, as its new finance boss.
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