LONDON Dec 13 British retailer Marks & Spencer
said on Tuesday its chairman Robert Swannell has
informed the board he plans to retire in 2017, having served six
years in the post.
The clothing and food group said Vindi Banga, its senior
independent director, would lead a process to identify and
appoint the next chairman.
Swannell will continue in his role until this process is
"A year ago we chose Steve Rowe as our chief executive.
Steve completed a thorough analysis of the business and
developed a detailed plan to build a simpler and more relevant
M&S," said Swannell.
"This plan is now underway and I feel that it is the right
time for the business to look for a new chairman."
(Reporting by James Davey; editing by Sarah Young)