M&S pick of retail veteran Norman as chairman lifts shares

M&S pick of retail veteran Norman as chairman lifts shares

United Kingdom retail group Marks & Spencer has made what one analyst describes as a "formidable appointment" with the hiring of Archie Norman as its new chairman, replacing the outgoing Robert Swannell.

M&S announced in a statement this morning that it had appointed Archie Norman as chairman with effect from September 1, to succeed Robert Swannell who will retire from the board on that date.

Norman has extensive experience in the industry, with important roles at ITV, Lazard, Hobbycraft, Kingfisher and Energis.

Afghan security fires on census workers, killing 1
But the Afghan government said Pakistan was warned not to conduct census in villages on the border which housed divided families. Afghan security officials told VOA a civilian was killed on their side while a border police personnel was wounded.

Norman is a former chief executive and chairman of supermarket retailer Asda, and will work alongside M&S CEO Steve Rowe for the British label that is trying to re-find its goal and relevance to the British shopper to profitable effect.

Mr Norman has a reputation for turning around businesses.

"The plans will improve the M&S store estate to better meet customer needs and include opening 200 new Food-only stores and selling Clothing and Home from 60 fewer locations", the company said.

Indian benchmark indices decline on Wednesday
Power Grid (+2.43%), TCS (+1.63%) were the top gainers on Sensex too, while Lupin (-2.79%), Adani Ports (-1.62%) traded lower. Brokers said apart from weak global cues, investors booked profit after recent gains, pushing the indices down.

"Archie is one of the most respected business leaders in the United Kingdom with extensive experience as both CEO and chair, and a proven record in retail and other areas".

"The combination of Norman and (CEO Steve) Rowe should be a force for good for M&S ... we welcome this appointment", said Shore Capital analyst Clive Black, who has a "hold" rating on the stock.

He is also well-connected politically, being a former member of Britain's lower house of Parliament, representing the Conservative Party in Tunbridge Wells, southern England. The appointment follows this week's surprise announcement that Halfords Group Plc CEO Jill McDonald will take over as head of M&S's struggling clothing business.

Why New York City Won't be Fully Repaid for Protecting Melania Trump
The city spent $24 million providing protection to Trump Tower before the inauguration, according to the Mayor's Office. An extra $120m (£92m) to fund security for Donald Trump and his family is being considered by the US Congress.

Related Articles

  • NHL: Senators beat Bruins 3-2 in OT, advance in playoffs

    NHL: Senators beat Bruins 3-2 in OT, advance in playoffs

    The Bruins remained without defensemen Adam McQuaid (upper body), Torey Krug (lower body) and Brandon Carlo (upper body). Two embarrassing showings from the defense led to some of the easiest goals Stone and Pageau will ever score.

    Sterling's aunt calls for justice at vigil

    The investigation sought to find out whether officers had violated Sterling's civil rights and if the shooting was justified. Witness and police accounts differed on whether Sterling was threatening officers and whether he had reached for a gun.
    Capsule preview of the Raptors-Cavaliers series

    Capsule preview of the Raptors-Cavaliers series

    Game Two of the series is Wednesday in Cleveland before the series shifts to Toronto for Games 3 and 4 on Friday and Sunday. One round earlier than a year ago, Toronto and Cleveland are meeting again in the National Basketball Association playoffs.
  • Recent Analysts Ratings Groupon, Inc. (GRPN)

    Recent Analysts Ratings Groupon, Inc. (GRPN)

    Following the completion of the sale, the director now directly owns 116,923 shares of the company's stock, valued at $491,076.60. The coupon company reported $0.01 earnings per share (EPS ) for the quarter, topping the consensus estimate of ($0.05) by $0.06.
    White House expects vote on healthcare bill this week

    White House expects vote on healthcare bill this week

    Fred Upton of MI , a former chairman of the House panel that oversees health care issues, said Tuesday he is against the measure. Vice President Mike Pence was at the Capitol Monday afternoon, meeting with members wavering on the bill, such as Yoder and Rep.
    No new Samsung S8 or S8

    No new Samsung S8 or S8

    The Indian variant of the Galaxy S8 and S8+ comes with Exynos 8895 chipset which is an Octa-Core processor clocked at 2.3 GHz. A few days ago we discussed that Samsung is planning to bring refurbished Galaxy Note 7 models into the market.
  • Inmate crashes out of Iowa jail in stolen transport van

    Inmate crashes out of Iowa jail in stolen transport van

    Back at the jail, Correa-Carmenaty struggled with the deputies and was able to get one of their handguns just before 11 a.m. One other inmate was in the van, but Danker said he didn't believe she was involved.

    Senate confirms Alex Acosta as labor secretary

    Secretary Acosta takes over at the Department of Labor at a challenging time with shifts in the economy and the world of work. Acosta defended the decision, arguing that the case against the billionaire may not have been strong enough to convict him.
    Pentagon probes former Trump aide Flynn's foreign payments

    Pentagon probes former Trump aide Flynn's foreign payments

    The Democrat also pushed the White House to release documents it has that could aide in the Oversight Committee's investigation. He was paid between $33,750 and $45,000 to attend the gala at which he was seated next to Russian President Vladimir Putin.
  • Isaiah Thomas joins Celtics greats in 53-point masterpiece

    Isaiah Thomas joins Celtics greats in 53-point masterpiece

    Marcin Gortat had 14 points and 10 rebounds and Markieff Morris scored 16 for the Wizards , but both fouled out in overtime. Boston Celtics point guard Isaiah Thomas drives to the basket against Washington Wizards shooting guard Bradley Beal .
    Bears were bidding against themselves in National Football League  draft trade with 49ers

    Bears were bidding against themselves in National Football League draft trade with 49ers

    The MMQB's Peter King was in San Francisco's war room and witnessed the Niners' end of that transaction . Lynch thought Chicago wanted Thomas, and was comfortable with taking Foster with the third pick.
    Trump Issues 'Guarantee' on Health Plan

    Trump Issues 'Guarantee' on Health Plan

    Risk pools have traditionally not served patients well as they either cost individuals or the government too much money, says R. And he acknowledged the presidency is "a tough job". "Well, it's a tough job", he said. "But I'll let you know later on".