Marks & Spencer Co-CEO to step down

Marks & Spencer has confirmed the departure of Co-CEO Katie Bickerstaffe, who will step down after two years in the role. 

The move will leave M&S under the sole control of CEO Stuart Machin, who has been spearheading the turnaround of the business.

Bickerstaffe served as a Non-Executive Director and Co-Chief Operating Officer of M&S prior to being appointed Co-CEO in March 2022.

Having helped see through this leadership change, the strengthening of the management team and a marked improvement in the performance of the business, she will leave M&S in July 2024 to focus on her board career.

"I took on the Co-CEO role to support Stuart as he succeeded to Chief Executive Officer and because of my love for the brand and my determination to see the transformation of M&S through to the next stage," said Bickerstaffe.

"We have built a strong team, made great progress, and it is now right that the business and function heads report directly to Stuart. I will leave with great memories and a strong sense of achievement."

"I’m very grateful to Katie for her support in seeing M&S through this important period in the reshaping of the business. We now have a much stronger business, and she will move on with our very best wishes," added Machin.