Marks&Spencer Bolsters Leadership Stability with Archie Norman’s Continued Chairmanship

Marks&Spencer is extending Archie Norman’s term as chairman for a further three years, starting in September 2026. The executive, who took up the position in 2017, will thus pass the nine-year mark. The appointment will be subject to annual shareholder approval at the annual general meeting.

The board of the British department store operator believes that Norman’s continuity is aligned with the company’s interests, it says in a statement Wednesday. It also insists that the extension of the mandate has “broad support” among shareholders.

Marks&Spencer has recently renewed its leadership, but believes that the departure of the president would not benefit the leadership and would harm the stability of the company, which is implementing a restructuring plan to continue growing. Norman’s term extension will be reviewed annually.

Marks&Spencer believes Norman’s departure after nine years in the role would damage the stability of the operator, amid the restructuring plan

The comply or explain policy forms a recommendation for UK companies, which applies when chairmanships exceed nine years, with the aim of maintaining independence. When they are complied with, the company has to comply with the recommendation to change management or, if it decides not to do so, publicly explain why it is doing so.

Marks&Spencer announced in May the appointment of David James, former supply chain and logistics director at Boohoo, as the company’s new supply chain and logistics director. Parallel to this was the appointment of Sharry Cramond as marketing director.

Both appointments follow the British operator’s appointment last February of John Lyttle, former managing director of Boohoo, as the new managing director of the group’s apparel, home and beauty division.

Other changes within the group have included Maddy Evans, director of M&S Woman, and David Brittain, former Amazon business development director, now also head of the home division since April.

Marks&Spencer closed the 2024 financial year with growth of 3.5%, exceeding €5 million in 2024. Online sales took 34% of the fashion turnover, during the period and, although the company celebrated the good results, it has also admitted the impact of the website closure following the cyber-attack. In the medium term, however, the company expects to increase this figure to 50% of total sales.