The food and clothes retailer's share price fell about 3p this morning in reaction to the announcement, but rallied to just under 1 per cent below Friday's close as analysts sifted the implications.
Press reports on Sunday said the City's retail watchers were getting impatient with M&S's performance a year after the white knight chief executive was installed, but not all reacted badly to Wilson's departure.
Seymour Pierce analyst Richard Ratner said that, because Wilson will not be leaving until the autumn, the impact of his moving on will be softened. He said: 'Charles did a good job, as he was the person responsible for the strategy of cost cutting and improving logistics and the supply chain. Charles departure may appear to be disappointing, but by the end of October, most of the major elements of his job will be completed.'
Numis analyst Iain McDonald held a less optimistic view. He noted that Wilson has a 10-year association with Rose, both at Booker and Arcadia. He said: 'We remain sceptical on M&S's recovery. The stock picked up on last week's trading update, however we fail to see recovery signs in this. We feel this announcement is the strongest confirmation we have had so far of our view.'
Merrill Lynch analyst Katherine Wynne agreed with McDonald that Wilson's departure would be a blow to the retailer as the commitment to overhauling the retailer's supply chain appears uncompleted. Wynne said that M&S needs a two-speed supply chain to cope with Per Una's faster turnaround, as well as long volume lines.
She said: 'We don't see evidence that this is in place, merely that Wilson and Rose have achieved better terms and efficiency savings within the existing structure.'
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