Marks & Spencer to lose two experienced executives

March 25, 2014 - 9:19:45 am

LONDON: Marks and Spencer said on Tuesday that two of its most experienced directors would leave the business this summer.

Both Darrell Stein and Clem Constantine, directors of IT and property respectively, have been with M&S since 2006, according to the company's website.

"Their roles have significantly changed recently; Darrell developed our new e-commerce platform, which has now been delivered and, as announced at our interims, we will be putting on less GM space, which changes our property focus," an M&S spokeswoman said.

Industry data showed last week that M&S had lost share in  the British fashion market over the last three months, piling pressure on Chief Executive Marc Bolland, who has presided over 10 straight quarters of declining underlying sales in M&S's general merchandise division. (Reuters)