Marks & Spencer appoints Archie Norman as chairman
Marks & Spencer of the UK has appointed Archie Norman, the 63-year old retail veteran, as its new chairman, lifting the retailer's shares by 6%. Norman was part of the team that established and built general merchandise Kingfisher in the 1980s, helped to revive food retailer Asda in the 1990s, and will receive an annual salary of £600 000 for the part-time post. He is well-connected having spent 8 years as a Conservative member of Parliament.
M&S has also announced that it has hired Jill McDonald from Halfords to head the clothing division, the most troubled part of the company for some time.
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