What: Katie Bickerstaffe, M&S co-chief executive, will step down in July to join Kingfisher’s board, leaving CEO Stuart Machin in sole control.

Why it is important: Bickerstaffe's departure marks a significant transition for M&S, highlighting a pivotal moment in the retailer's ongoing transformation efforts. As she moves on to pursue a portfolio career, her exit underscores the changes within M&S's leadership structure and its implications for the company's future direction, especially as it continues to navigate its turnaround strategy under Machin's leadership.

After a two-year tenure as co-chief executive of Marks & Spencer, Katie Bickerstaffe is set to leave her position in July, transitioning to a role as a non-executive director at Kingfisher, the parent company of B&Q. During her time at M&S, Bickerstaffe played a crucial role in the company's strategic transformation, particularly in digital, data, and international domains. Her exit comes at a time when M&S, under the leadership of Stuart Machin, is undergoing a significant business overhaul aimed at reviving its clothing and home segments. Bickerstaffe’s move reflects a strategic shift in her career while leaving M&S to operate under Machin's singular leadership, aiming to streamline the decision-making process and further the company's restructuring efforts. Her contributions have been instrumental in reinforcing the brand's position and setting the stage for its next phase of growth.

M&S co-CEO Katie Bickerstaffe exits after two years