Marks & Spencer’s former chairman Lord Myners has been appointed to assist a parliamentary committee’s probe into BHS.
Myners, who has spearheaded investigations into the governance of the Co-op and Nisa in the past, will advise the Work and Pensions committee on Sir Philip Green’s management of BHS, its sale to Retail Acquisitions and its subsequent administration.
Myners, who was chairman of M&S from 2004 to 2006, played a leading role in fending off Green’s £9bn attempted bid for the high street retailer more than a decade ago.
His involvement in the parliamentary investiogation will be a fresh blow for Green, given the pair’s acrimonious history. Green is scheduled to appear before the committee on June 15.
Yesterday, Green called for committee chair Frank Field to resign following comments from the Labour MP that he would advise the committee to strip Green of his knighthood if the £571m pension deficit at BHS was not settled.
“If someone rats on the commitment he made to his workforce, we would want to reconsider whether honours are still appropriate,” said Field.
In a statement that responded to Field’s comments, Green said: “Clearly he has already made his decision as to what he feels the punishment should be without even hearing any evidence from anybody about BHS or the circumstances of the past 15 years.
“I think Mr Field needs to stand down from the inquiry immediately as he is clearly prejudiced.”
Myners previously advised that the Co-op’s democratically elected members be removed from the board. The former M&S chairman also described Nisa’s governance as “broken” last year.