Marc Bolland informs Marks & Spencer board he is staying put
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Marc Bolland, the current reigning Chief Executive at high street retailer Marks & Spencer has no plans to exit his role for at least another two years, shutting down rumours concerning his future at the department store. The Dutchman has reportedly told the board at M&S that he intends to remain at the helm of M&S, as he believes the positive effects of his 5 year turnaround as beginning to show.
According to the Telegraph, Bolland revealed his impending stay to the board as proof of his commitment to the company, weeks before the department store's interim result sources. Bolland stresses that his "step-by-step" strategy, which included a total overhaul of M&S online business and supply chain to boost margins are starting to bear fruit.
Sources, however argue that it too soon to claim that M&S is on a stable recovery road, in spite of positive signs. M&S womenswear collection continues to struggle, in spite of several revival attempts.