Executive chairman, Marks & Spencer

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After six years at the helm that brought cheers then jeers in almost equal measure, Sir Stuart Rose is ready to move on.

Rose was welcomed as Marks & Spencer’s “king over the water” when he took charge in 2004 as tycoon Sir Philip Green menaced the bellwether retailer. He is now handing the controls to Marc Bolland (4).

In the minds of customers, the media and investors, Rose is as much the face of M&S as famous fashion model Twiggy. He will give up his executive powers at the end of July and, by March next year, will finally leave the business to which he had such an intrinsic connection.

The change in Rose’s role and the continued skirmishes with corporate governance sticklers who again challenged the extent of his powers at last year’s AGM means he loses three places on the Power List.

But Rose’s clout in the industry remains almost unparalleled. His views on environmental sustainability changed the game during his years at the helm of M&S, while in the run-up to the election he was one of retail’s strongest voices in the mainstream media - speaking out on issues such as the implications of a rise in National Insurance contributions.

The Rose era marked a £1bn return to profits for M&S. There were also echoes of the Greenbury years in the controversy that dogged his final days at the business over his succession.

While the changing of the M&S guard means Rose slips down the list, nobody would be surprised if he remains on the retail scene. If so, his pronouncements and actions are likely to resonate across the industry: he remains one of the sector’s most powerful grandees.