// M&S confirms that Richard Price will start as the new clothing & home MD on July 6
// He replaces Jill McDonald, who left in July last year
// M&S also announced a 50% “rainbow sale” on clothing, with 10% of purchase price donated to the NHS
Marks and Spencer has confirmed that the new boss of its clothing and home division will start on July 6.
Richard Price, chief executive of F&F Clothing at Big 4 grocer Tesco, was first announced as the new M&S clothing and home managing director back in November.
He will replace Jill McDonald, who left in July last year after nearly two years in the role, after M&S posted a string of lacklustre trading updates for the clothing and home division.
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Price is no stranger to M&S, having worked there as a trading director from 2005 to 2012 before joining BHS as managing director in 2012.
Since 2015 he has been chief executive of Tesco’s F&F clothing brand.
M&S said Price’s arrival was earlier than expected.
Upon arrival, group chief executive Steve Rowe will hand over his clothing and home accountabilities to Price, after taking care of the division since McDonald’s departure.
“Richard joins us at a crucial time,” Rowe said.
“I am confident that his leadership of a much-strengthened team and track record of delivering growth through great value, stylish product will accelerate the transformation of our clothing and home business and build on the improvements in product, value and availability over the past year.”
The news comes the same day M&S announced a 50 per cent “rainbow sale” on clothing, where by 10 per cent of the purchase price, excluding VAT, would be donated to the NHS.
The sale will start with a product drop of womenswear and will expand into new lines “over the coming weeks”.