M&S co-chief executive Katie Bickerstaffe will step down from her post in July after two years at the helm.
Bickerstaffe is leaving the retailer to focus on a portfolio career and will join B&Q owner Kingfisher’s board as a non-executive director, Sky News reported.
Her departure will leave M&S under the sole control of CEO Stuart Machin, who has been spearheading a turnaround of its struggling and home business.
Machin said on Bickerstaffe’s departure: “I’m very grateful to Katie for her support in seeing M&S through this important period in the reshaping of the business. We now have a much stronger business, and she will move on with our very best wishes.”
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Bickerstaffe joined M&S in 2018 as a non-executive director before becoming its chief transformation and strategy director in 2020, its joint chief operating officer in 2021 and eventually, co-ceo in 2022.
She has led the digital, data and international aspects of the business over the past two years.
Bickerstaffe said: “I took on the co-CEO role to support Stuart as he succeeded to chief executive officer and because of my love for the brand and my determination to see the transformation of M&S through to the next stage.
“We have built a strong team, made great progress, and it is now right that the business and function heads report directly to Stuart. I will leave with great memories and a strong sense of achievement.”
She is currently a non-executive for property giant Barratt Developments, the England and Wales cricket board.
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