It is the end of an chapter for British high street department store
group Marks & Spencer, as Chief Executive Officer Marc Bolland threw in the
towel today with the announcement of his impending retirement.
In spite of indicating that Bolland
intended to remain at the helm of M&S for at least another two years, as he
believed his five-year plan was beginning to bear fruit, he had already
informed the board of intention to retire mid-2016 last summer. His
unexpected retirement suggests that perhaps his plan, which include
millions of pounds investment in the revamp of its clothing business,
failed to hit its mark.
During Bolland’s six year tenure at Marks & Spencer he introduced a number
of initiatives to improve its flagging clothing sales. FashionUnited lists
the his successes and failures during his reign at M&S.