Marks & Spencer CEO Stepping Down With Turnaround Incomplete

Machin to become CEO, responsible for day-to-day business
Bickerstaffe is named co-CEO, heading online operations

Steve Rowe
Photographer: Chris J. Ratcliffe/Bloomberg

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By Katie Linsell

March 10, 2022 at 2:16 PM UTC

Updated on

March 10, 2022 at 5:17 PM UTC

Marks & Spencer Group Plc said Steve Rowe is stepping down after six years of turnaround efforts that have yet to convince investors the U.K. retailer is back on track.

Rowe, 54, will step down on May 25, when Chief Operating Officer Stuart Machin will become CEO and Katie Bickerstaffe co-CEO, with a focus on areas such as online operations, the company said Thursday.