The odds on leading internal candidates to succeed Sir Stuart Rose as Marks & Spencer chief executive have lengthened, according to top betting firm Paddy Power.
Former favourite Ian Dyson, group finance and operations director, has been overtaken by Sainsbury’s boss Justin King. Dyson is down from 3/1 and fashion supremo Kate Bostock down from 5/1. The odds on King were formerly 10/1.
Marks & Spencer will appoint a new chief executive some time next year and its preference is to promote internally. But one top headhunter said: “They will have to go for an outsider.”