The chief executive of Marks & Spencer, Marc Bolland, has announced his retirement from the retailer he will be replaced by Steve Rowe.
Mr Rowe was previously head of food at M&S and recently took over as head of general merchandise following the sudden departure of John Dixon.
Mr Bolland will stay in position as chief executive until April 2nd and will then stay "available to Steve and the board to assist in the transition until June 30th, 2016".
The departure comes after the retailer reported its worst Christmas for clothing sales, with like-for-like sales in its general merchandise division down by 5.8% over the festive period.
However, in contrast M&S food sales had their best Christmas yet with a 0.4% like-for-like growth and 3.7% lift in total sales.
Marks and Spencer group chairman, Robert Swannell said: "Over the last six years Marc Bolland has led Marks & Spencer through a period of necessary change. Over this time, the company has made significant investment in enhanced infrastructure and capabilities.
"It is now positioned for a digital age, with its own online platform and dedicated e-commerce distribution centre, improved design and sourcing capabilities in general merchandise and an industry-leading track record of growth and innovation in the food business.
"Marc has put 'Plan A' at the heart of the business and leaves a strong sustainability legacy. The board is very grateful to Marc for his leadership in this important period of enhancing Marks & Spencer's competitive position for its future.”
