M&S clothing director John Dixon steps down
Dixon says he has the opportunity to become a chief executive
Marks & Spencer's share price fell this morning as the UK retailer's head of clothing and homewares, John Dixon, announced his decision to step down.
Dixon, executive director of general merchandise, said he wants to pursue career opportunities outside of the company. He will step down from the board with immediate effect and leave the company on a date to be agreed.
"I now have the opportunity to become a chief executive and have therefore resigned from this great company," he said in a statement.
Steve Rowe will take on responsibility for general merchandise and Andy Adcock, currently trading director of food, will step up to be director of food, reporting to chief executive Marc Bolland on an interim basis.
Marks & Spencer's share price fell 1.28% to 539 pence this morning on the news. As the longest serving senior team member, Dixon was regarded as a contender for the chief executive role should Bolland leave.
The retailer has been under pressure of late to improve its performance. In its last quarter, the group reported a 0.4% decline in first quarter like-for-like general merchandise sales.
Shore Capital analyst Darren Shirley commented earlier this month: "[The] ladies' wear department looked conservative, elderly and quiet. How many times has the question been asked: will M&S ever do in clothing what it does in food?"
According to The Times, however, it is thought Dixon had become disillusioned after realising he was losing out in a succession battle. It is understood Rowe is a more likely successor.
Trainers have had something of a revival in the fashion world over the last few years, from glittering versions on the Chanel catwalk to minimalist versions....
In 2015 womenswear saw negligible current value growth in the UK; however, in volume terms growth of 2% was seen, suggesting that value continues to be an important factor for women....
In the UK, consumers continue to purchase apparel and footwear from a host of so-called fast fashion retailers, in which prices are low, stock turnaround is rapid and catwalk trends are emulated in hi...
This report provides information, analysis and valuable insight into developments relating to the global apparel industry....
- Fashion fit for the future – strategies for speed
- Digitisation to drive new apparel-making models
- Will new Vietnam wage hinder competitiveness?
- Under Armour Lighthouse will disrupt production
- Pakistan industry seeks help to kickstart exports
- Child refugees found in Turkey apparel factories
- Chinese manufacturer invests $20m in US facility
- US Q3 in brief - Rocky Brands, Gymboree Corp
- Reebok Liquid Factory reinvents shoe production
- Managing change in the move to new tech tools
- Africa-Med strategic sourcing review – comparing East Africa, North Africa and Turkey
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Apparel (GLOBAL) - Industry Report
- Global Sports and Fitness Wear Market 2016-2020