Marks and Spencer (M&S) has announced in a press statement that Marc Bolland has been appointed as the group's new chief executive officer, a position he will take up on an as-yet unconfirmed date next year.
Mr Bolland will join the group from fellow UK-based retailer Morrisons, where he has held the position of chief executive since joining the company in 2006.
Current CEO Sir Stuart Rose will continue as part-time chairman to ensure a smooth transition, before leaving the group by July 2011, M&S said.
'I am delighted that Marc is to be M&S' next chief executive,' said Sir Stuart. 'He brings a wealth of consumer marketing experience and has made a great success of his time at Morrisons. We very much look forward to welcoming him and working together.'
Mr Bolland said that he was looking forward to linking up with the management team at M&S.
'M&S is one of the world's great brands and I am very pleased to be given the opportunity to lead the company forward at this exciting stage,' he said. 'I am greatly looking forward to working with Stuart and the M&S team.'
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