Sir Stuart Rose has left Marks & Spencer (M&S) after six years at the high street retail giant.
His chairmanship has been taken on by former City banker Robert Swannell, who arrived at M&S in a non-executive capacity in October.
During Rose’s tenure at M&S, which saw him take on a combined role of CEO and Chairman for the three years until Marc Bolland arrived in the spring of 2010, he helped the business reach profits of £1 billion in a single year and significantly increased its share price.
The retailer’s fashion arm has also returned to health under his leadership, aided by huge marketing campaigns involving major celebrities such as musician Myleene Klass, ex-footballer Jamie Redknapp and 1960s fashion icon Twiggy.
Rose’s replacement Swannell has most recently been Chairman of entertainment retailer HMV Group and Senior Independent Director of property group British Land, and has been learning about the new role from his predecessor over the last three months.
But what now for one of UK retail’s most recognisable figures?
In September, the 61-year-old joined European private equity firm Bridgepoint’s European Advisory Committee, but he is sure to be well sought-after for different jobs across the business world.
Commenting on his new role, Sir Stuart said: “Bridgepoint is one of Europe’s leading private equity groups and a major investor in retail.
“I am greatly looking forward to working closely with the team and providing consumer insight for their investments.”