M&S extends Archie Norman’s Chairmanship to steer 'next phase' of growth

Marks & Spencer has confirmed that Archie Norman will continue as Chairman, extending his tenure beyond the nine-year milestone typically outlined under the UK Corporate Governance Code.

The decision, following consultation with shareholders, executives and advisers, reflects broad support across the investor base and underscores the Board’s desire for continuity as the retailer advances the next stage of its Reshaping for Growth strategy.

Norman has chaired M&S since 2017. Under his leadership, alongside CEO Stuart Machin, M&S has strengthened its executive team, streamlined operations, and made progress in modernising both food and clothing divisions. The Board believes that Norman’s experience and familiarity with the business will be vital in maintaining momentum over the coming years.

Archie Norman

Fiona Dawson CBE, Senior Independent Director and Chair of the Committee of Non-Executive Directors, said: "Archie has been an exceptional Chair, steering an effective, engaged Board and putting in place a highly capable leadership team under Stuart Machin, which is transforming M&S and building a stronger, better business.

"There remains much to do, and Archie’s deep knowledge of the business, drive and unique experience will be invaluable as we move to the next phase of the Reshaping for Growth plan."

The extension, which will be formally reviewed annually by a committee of independent directors, is proposed to run for three years from September 2026, though it remains subject to shareholder approval at the Annual General Meeting.

This comes after the company reported a higher-than-expected adjusted pre-tax profit of £875.5 million for the year to March, up 22.2% on the previous year. M&S revenues grew by 6% to £13.8 billion as a whole for the year, as fashion, home and beauty sales grew by 3.5%. However, it said disruption from a major cyber attack is expected to cost the company around £300 million.