The changeover in Marks & Spencer's executive team has finally been completed today with the news Ian Dyson is to be replaced by former Wh Smith finance director, Alan Stewart. Stewart, who made the move today has been at aircraft leasing company, AWAS for the last two years.
The new management team, which is now 'fully' at the helm of Britain's largest retailer is now complete as Sir Stewart Rose moves from executive chairman to just chairman, whilst Ian Dyson moves from M&S to Punch Taverns.
The two led the company to successive year-on-year gains in revenue and profits, although some doubts remain over their compromises over quality, in five years which has seen the FTSE 100 company return to the market at the top-end of the City's forecasts almost as high as its hey-day in 1999-2000.
The two also initiated an ethical plan known as 'Plan A' which put the company on a 'green' initiative to act on Climate Change, Waste, Sustainable Raw Materials, Health and be a Fair Partner'.
The new management team also includes Morrison's former Chief Executive Marc Bolland who is famed for increasing brand awareness of the 'family-run' business that led to his appointment at M&S where Alan Stewart now joins him.
The shares in the company were down 2 pence as the FTSE 100 was said to be facing a mass sale on 'profit-taking'.