Nov 22, 2019
M&S poaches Tesco executive to head clothing unit
Marks & Spencer said Tesco executive Richard Price had been appointed managing director of its clothing and home business as it seeks to reinvigorate its apparel sales. Mr Price is currently chief executive of F&F Clothing, a Tesco sub-brand. Steve Rowe, the M&S chief executive who has been running the clothing and home division since July, said he was "Confident that the speed and scale of the transformation of the business will accelerate." He will join M&S next year, becoming its fifth head of clothing in 10 years. Mr Rowe later told analysts the recovery of the clothing and home division, which has not reported a quarter of sales growth since 2017, was 18 months behind where he expected it to be.
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