Justin King, one of Britain’s most prominent business figures, will quit the board of Marks & Spencer next month, the retailer said on Wednesday.
Marks & Spencer retails goods ranging from apparel to groceries
Media reports last month said King was the frontrunner to take over as chair of publicly owned UK broadcaster Channel 4. Reuters has asked Channel 4 to comment.
M&S said King, a non-executive director since 2019 and a former head of its food business, had informed the board he intended to step down on September 10.
King, also a former boss of supermarket Sainsbury’s, was once considered by analysts as a possible successor to M&S chairman Archie Norman, who has held the role since 2017. Britain’s corporate governance code recommends a maximum nine-year tenure for a chair.
Norman said King “leaves as a lifelong friend of the business”. M&S is recovering after a cyberattack in April crippled its online business. Its shares are down 6% so far this year.
