A former bank chairman has been named as one of three candidates for the role of Marks & Spencer chairman.
Lord Terry Burns, who previously worked for Abbey, is the only candidate identified so far, however, the future of current chairman, Paul Myner is expected to be decided at a board meeting on Wednesday.
Kevin Lomax, non-executive director with the retailer, has made it clear he wants Myners replaced as he feels the chairman is too close to chief executive Stuart Rose.
However, Myners is insisting he will not stand down and media reports indicate there is little pressure for change from shareholders.
Myners is also reported to have announced he will reduce his outside commitments to concentrate on the struggling retailer.
