The co-chief executive of Marks & Spencer, Katie Bickerstaffe, will retire from her role in July 2024, the retailer announced today.
Bickerstaffe will be leaving her role to pursue a board career, according to the announcement.
Prior to her role as co-CEO, Bickerstaffe served as a non-executive director and a co-chief operating officer with the company.
In March 2022, she took on the co-CEO role with chief executive Stuart Machin, as they succeeded Stephen Rowe.
The statement noted that Bickerstaffe saw Marks & Spencer through a leadership change and the strengthening of the management team, post-pandemic.
It added that there was a marked improvement in the performance of the business during her tenure.
She will move on to other board roles, in line with the original leadership transition plan.
When taking on the role, Bickerstaffe became the first female boss in the company’s 137-year history.
‘Strong Sense Of Achievement’
Machin, who will be staying on as chief executive, expressed his gratitude for Bickerstaffe’s work.
He said, “I’m very grateful to Katie for her support in seeing M&S through this important period in the reshaping of the business.
“We now have a much stronger business, and she will move on with our very best wishes.”
Bickerstaffe said in a statement, “I took on the co-CEO role to support Stuart as he succeeded to chief executive officer and because of my love for the brand and my determination to see the transformation of M&S through to the next stage.
“We have built a strong team, made great progress, and it is now right that the business and function heads report directly to Stuart.
She concluded, “I will leave with great memories and a strong sense of achievement.”
Bickerstaffe will retain her role until Marks & Spencer’s annual shareholder meeting in July.
Read More: Marks & Spencer UK Announces Up To 10.1% Wage Increase For Staff
