Executive board directors reduced from six to three
Marks & Spencer chief executive Stuart Rose has announced sweeping board changes as he unveiled the retailer's half-yearly figures.

Finance director Alison Reed is to step down by mutual agreement and a search for her replacement is under way. Reed will stay in her role until February next year.

Executive director for menswear, childrenswear and home Maurice Helfgott is to leave immediately.

He has been with the retailer for 16 years. Also to leave without further notice is executive director for retail, international and franchises Mark McKeon. Neither he nor Helfgott will be replaced.

M&S Money chief Laurel Powers-Freeling is also departing, because that part of the business has been sold. HR director Jean Tomlin and director of home Jack Paterson will also leave the company.

The retailer will have just three board directors: Rose, property, IT and supply chain chief Charles Wilson and the finance director. All buying and merchandising heads will report to Rose, while IT, logistics and property chiefs will report to Wilson.

A number of appointments have been made at the retailer. Anthony Thompson has been promoted to director of retail. Fiona Holmes has been promoted from executive assistant to the chief executive, to director of childrenswear. Keith Cameron will join as HR director. Steve Rowe will take on the role of interim director of home until a permanent appointment is made. A search is under way for an external candidate for director of food.

The trading team now looks like this:

  • Kate Bostock - director of womenswear

  • Matt Hudson - director of lingerie and beauty

  • Andrew Skinner - director of menswear

  • Fiona Holmes - director of childrenswear

  • Steve Rowe - interim director of home

  • Guy Farrant - director of trading and interim food director

  • Andrew Moore - director of general merchandise planning

  • Anthony Thompson - director of retail