Money: M&S sacks fashion boss with CEO to lead turnaround - PressFrom - United Kingdom
  •   
  •   

MoneyM&S sacks fashion boss with CEO to lead turnaround

11:20  12 july  2019
11:20  12 july  2019 Source:   news.sky.com

Interserve taps turnaround veteran Alan Lovell as new chairman

Interserve taps turnaround veteran Alan Lovell as new chairman Interserve is set to tap industrial turnaround specialist Alan Lovell as its new chairman as the beleaguered outsourcer looks to reverse its fortunes. The appointment of Lovell, who was brought into Carillion just weeks before its collapse and has held a string of other high-profile roles over the last thirty years, will be unveiled tomorrow, Sky News reported. The appointment will come as a welcome boost to Interserve, which fell into the hands of its lenders in March after briefly going into administration.

The retailer had struggled to boost fashion sales for many years ahead of her tenure - made more difficult in the past 18 months as shoppers have M & S said in its statement: " M & S today announces that Jill McDonald is leaving the business nearly two years after taking over as managing director of

M & S says its clothing boss Jill McDonald is leaving the business, declaring the transformation of its fashion fortunes must “move on at pace”. The decision to hire her raised eyebrows at the time as she had no previous fashion experience. M & S poached her from Halfords – where she was chief

M&S sacks fashion boss with CEO to lead turnaround © Getty Jill McDonald joined M&S as clothing, home & beauty managing director from Halfords in October 2017. Pic: M&S

Marks & Spencer (M&S) says its clothing boss Jill McDonald is "leaving the business", declaring the transformation of its fashion fortunes must now "move on at pace".

The development was confirmed less than 24 hours after a report by Sky News that her departure was likely.

The company stopped short of saying that Ms McDonald had been forced out but it is understood there was no inclination she wished to leave - almost two years since her appointment.

Chief executive Steve Rowe is to take personal charge of the division.

The turnaround of Ben Stokes, the once bad boy of cricket

The turnaround of Ben Stokes, the once bad boy of cricket The turnaround of Ben Stokes, the once bad boy of cricket

M & S sacks fashion boss McDonald with CEO to lead turnaround . He was chief executive of the ‎construction companies Jarvis, Costain and Conder Group, as well as waste-to-energy businesses Tamar Energy and Infinis and the consumer goods company Dunlop Slazenger.

M & S sacks fashion boss McDonald with CEO to lead turnaround . Another leading care home operator, Barchester Healthcare, has seen a deal to sell itself to Macquarie, the Australian infrastructure investor, collapse amid political and economic uncertainty in the UK.

M&S sacks fashion boss with CEO to lead turnaround © Reuters Steve Rowe is taking personal charge of the fashion division The decision to hire Ms McDonald raised eyebrows at the time as she had no previous fashion experience but a strong background in customer service.

M&S poached her from Halfords - where she was chief executive following a spell in charge at McDonald's UK.

The retailer had struggled to boost fashion sales for many years ahead of her tenure - made more difficult in the past 18 months as shoppers have tightened their belts.

Its most recent annual results in May showed UK clothing and home revenues had fallen 3.6% on the previous 12 months.

The Guardian reported that at the company's AGM this week, Mr Rowe admitted mistakes in a "troubled year" for fashion that included selling out of a number of fast-selling lines.

Topps Tiles sales jump as turnaround plan gains steam

Topps Tiles sales jump as turnaround plan gains steam The retailer said like-for-like sales increased 3.8% in the three months to June 29.

M & S sacks fashion boss Jill McDonald with CEO to lead turnaround . Our new leader needs to acknowledge that SMBs make a huge contribution to the economy – they employ 99.9% of the private sector economy, a total of 16.3 m people around the country.Likewise, last year British SMBs

M & S sacks fashion boss Jill McDonald with CEO to lead turnaround . Founder of clothes wear brand, Zip us in, 39 year old Kate Bell, from Hampshire says: “We have made quite a few mistakes during a three year period of rapid growth and I think that these have ultimately lead to our success.

M&S said in its statement: "M&S today announces that Jill McDonald is leaving the business nearly two years after taking over as managing director of clothing and home.

M&S sacks fashion boss with CEO to lead turnaround © Other M&S has been looking to attract younger fashion shoppers

"Steve Rowe will be taking over the leadership of the business directly in the near term."

He said: "Jill was brought in to establish a strong platform for the transformation of the clothing and home business.

"She has achieved that; she leaves with my thanks and good wishes for the future.

"She has recruited a talented team, improved the quality and style of product and set a clear direction for the business to attract a younger family age customer."

Related: The 20 most valuable companies of all time (Lovemoney)

Mr Rowe concluded: "The business now needs to move on at pace to address long-standing issues in our clothing and home supply chain around availability and flow of product.

"Given the importance of this task to M&S I will be overseeing this programme directly."

M&S shares - down 12% in the year to date - were 1% lower at the close of trading on Thursday.

MSN are empowering Women In Sport this summer. Find out more about our campaign and the charity fighting to promote the transformational and lifelong rewards of exercise for women and girls in the UK here.

West Ham continue to lead Rondon race.
West Ham are still leading the race for West Brom striker Salomon Rondon, despite recent interest from Mexican side Cruz Azul. According to The Northern Echo, the Hammers are looking to wrap up a deal for the powerful Venezuelan as soon as possible while fellow interested side Newcastle United search for a new manager. Both Premier League clubs have reportedly made a move for the striker in recent weeks, however, neither of the offers matched the Baggies’ valuation of the player. Rondon’s release clause has been lowered to £16.5m after West Brom failed to secure an immediate return to the Premier League last season.

—   Share news in the SOC. Networks

Topical videos:

usr: 9
This is interesting!