Rose drafts in new talent to M&S

Marks & Spencer (M&S) saviour Stuart Rose has reshuffled his management team in a bid to allay fears over the uncertainty of his successor when he steps down in two years’ time.

Carl Leaver, former chief executive of hotelier De Vere, has been drafted in to take over as director of international business, while Steven Esom, previously CEO of upmarket supermarket chain Waitrose, is the company’s new director of food. Internally, Guy Farrant, former head of food, takes on a broader role as head of retail and outlets. Kate Bostock, the only female in the running, continues as director of womenswear and girlswear, but with added responsibility for M&S’s essential lingerie department.

Analysts are divided on who is the frontrunner to take over from Rose. JP Morgan’s Simon Irwin has tipped Farrant for the position, while Seymour Pierce’s Richard Ratner has sided with Esom.

Rose said of the changes, “We are bringing new talent into M&S to work alongside our existing senior team, in order to drive the business through its next stage of growth.”

Rose received widespread praise for putting M&S back on the high-street map after his emergency arrival in 2004. His efforts have won back millions of disgruntled shoppers, translating into an 11 per cent increase in group sales to £3.93bn during the six months to 30 September 2006.