M&S chair Archie Norman has had his tenure extended for three years by the retailer’s board.
The retail veteran, who joined M&S in 2017, is set to reach the maximum nine years as chairman under the UK corporate governance code in September 2026.
Norman is now set to stay as chairman until 2029.
The tenure extension comes after consultation with company shareholders, executives, and the committee of non-executive directors.
In a statement to the London Stock Exchange, M&S said: “The board is unanimous in its conviction that his continuation as chairman is in the best interests of the company and there is widespread support for this view across the shareholder base.”
“M&S is a rapidly changing business with a recently strengthened executive team but there is a long way to go in delivering the ‘reshaping for growth’ strategy, and the company will benefit from the continued strong leadership and stability Archie’s chairmanship will bring.”
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The appointment is set to be put to shareholder approval at the retailer’s annual general meeting next summer.
Senior M&S independent director Fiona Dawson added: “Archie has been an exceptional chair, steering an effective, engaged board and putting in place a highly capable leadership team under [CEO] Stuart Machin, which is transforming M&S and building a stronger, better business.
“There remains much to do, and Archie’s deep knowledge of the business, drive and unique experience will be invaluable as we move to the next phase of the ‘reshaping for growth’ plan.”
The news comes after the food and fashion specialist named Asos exec Jag Weatherley as its new transformation director for fashion, home and beauty last month.
Earlier this month, the business also appointed Cos exec Paula Bricks as its new retail director for fashion, home and beauty, effective from November.
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