Tycoon Sir Philip Green’s Arcadia has raided Marks & Spencer to poach menswear trading director Richard Price as managing director of Bhs.
Marks & Spencer confirmed his departure and said: “Richard is a talented individual and he has done a great job in menswear.
“His new role as managing director presents a unique and challenging opportunity to take on a wider remit including all trading departments as well as stores, ecommerce and property. We understand why Richard would want to pursue this and he leaves with our thanks and very best wishes for the future.“
Price has been at M&S for seven years, and has overseen initiatives such as the retailer’s partnership with Savile Row tailor Richard James. Menswear was one of M&S’s strongest clothing categories last year, when womenswear came under pressure.
A Bhs spokeswoman said that Price will join the business this Autumn. Bhs has also promoted commercial director Darren Topp to chief operating officer.
Price is the latest in a line of M&S directors to leave recently, including Andrew Skinner and Alison Jones.