M&S co-chief executive Katie Bickerstaffe is stepping down from her role at the upmarket retailer after two years.
She will be leaving the retail giant after its annual general meeting in July, handing over the role solely to joint CEO Stuart Machin.
It comes as Bickerstaffe looks to focus on a board career, and will be joining DIY retailer Kingfisher as a non-executive director, Sky News reported.
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Prior to becoming co-CEO with Machin in March 2022, Bickerstaffe held roles at M&S including as a non-executive director and co-chief operating officer.
During her time at the business, M&S said she helped see through leadership changes, strengthened its management team and marked improvement in the performance of the business.
Machin said: “I’m very grateful to Katie for her support in seeing M&S through this important period in the reshaping of the business. We now have a much stronger business, and she will move on with our very best wishes.”
Bickerstaffe added: “I took on the co-CEO role to support Stuart as he succeeded to chief executive officer and because of my love for the brand and my determination to see the transformation of M&S through to the next stage.
“We have built a strong team, made great progress, and it is now right that the business and function heads report directly to Stuart. I will leave with great memories and a strong sense of achievement.”
