Marks & Spencer gets Tesco executive for top post

BRITISH retailer Marks & Spencer has appointed the chief executive of rival Tesco's F&F clothing division to be the boss of its struggling clothing and home business, the company said on Friday (22).

M&S, one of the best known names on UK high streets, said Richard Price would re-join the retailer as managing director, clothing and home next year, on a date to be confirmed.

In July, M&S' CEO Steve Rowe sacked clothing division head Jill McDonald after publicly criticising chronic availability, and assumed direct leadership himself.

Rowe chief executive officer (CEO) said: “Richard’s career spans some of the UK’s top clothing brands and he has a proven track record of delivering growth through stylish, great value product. We are building a team of world class talent in Clothing & Home and, with Richard coming on board...”

Price said: "Marks & Spencer Clothing & Home is a great business which still has strong brand affection and huge potential. I left the business because I felt it was drifting in the wrong direction but now feel we have a real chance to make it special again. The new team has already started to improve product and value and I am looking forward to working with them.”

Price previously worked for M&S from 2005 to 2012.

He was head of merchandise, before being promoted to menswear trading director in 2008.

He left M&S to become managing director of BHS and joined Tesco in 2015.