Marks & Spencer’s head of food has become the forerunner in the race to succeed chief executive Sir Stuart Rose next year.
John Dixon has been promoted to the retailer’s executive board, increasing his chances of landing the position, which M&S has already said they would prefer to be filled by an internal candidate.
Dixon’s recent work on the food side of the company has been hailed in recent months as the business shows signs of recovery after taking a heavy hit at the recession’s beginning.
Dixon has worked for M&S for 23 years and joined the firm as a management trainee, as did Rose. He was head of the group's homewares and online businesses before becoming director of food.
His main rivals in the running for the job are M&S finance director Ian Dyson and head of clothing Kate Bostock, while Asda’s Andy Bond and Sainsbury’s Justin King have been possible external candidates - although the latter has strongly denied the rumours and pledged his future to Sainsbury’s.
Rose, who will step down as chairman by July 2011 at the latest, has been under fire from some investors since 2008, when he combined the roles of chief executive and chairman against corporate governance guidelines.
Rose and marketing director Steve Sharp waived a third of the shares awarded to them in June in an attempt to allay the disquiet.
