The resignation of Charles Wilson from the board of Marks & Spencer will
see new finance director Ian Dyson take on added responsibility within the group
after less than two months in the finance hot seat.
Wilson, the right-hand man of M&S CEO Stuart Rose, had been in secret
talks with the UK’s largest cash-and-carry business Booker, and his departure
from M&S was confirmed this morning.
Wilson was tasked with a cost-cutting and efficiency drive at M&S –
responsibilities that will now fall to Dyson, who only began working at the
embattled High Street retailer in June.
In a statement, M&S said the departure of Wilson would allow Dyson ‘time
to fully settle into his new role’. The company emphasised that Dyson was
prepared to take on many of Wilson’s responsibilities.
M&S shareholders have been highly critical of the board’s efforts to
drive the M&S share price up to 400p – the price offered by billionaire
Philip Green which was turned down by Rose last year. The price has been lagging
at around 365p per share.
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