Marks & Spencer Chief Executive to retire in April

Marks & Spenser’s CEO Marc Bolland will retire in April after six years in the role. The British retailer announced that he will be succeeded by Steve Rowe, the current head of its non-food business. Bolland will remain CEO and on the board until the end of the current financial year on April 2 2016. The news comes after M&S reported poor trading in its general merchandise division which covers clothes, shoes and homewares. Like-for-like sales were down 5.8% in the third quarter which covers the key Christmas period.