He will replace Jill McDonald, who joined M&S in October 2017 from cycling company Halfords Group, where she was CEO.
Price’s career spans some of the UK’s top clothing brands, where he has a proven track record of delivering growth through stylish and value product.
Price previously worked at M&S between 2005– 2012, as Head of Merchandise and later to Menswear Trading Director.
Steve Rowe, CEO, commented: “Richard joins us at a crucial time. I am confident that his leadership of a much-strengthened team and track record of delivering growth through great value, stylish product will accelerate the transformation of our Clothing and Home business and build on the improvements in product, value and availability over the past year.”
M&S is also confirming a change of responsibility for CEO Steve Rowe, who will hand over his Clothing & Home accountabilities to Price upon his early arrival.