M&S says executive director is to leave

Clothing retailer Marks & Spencer said today second-highest ranked executive Charles Wilson had resigned.

Clothing retailer Marks & Spencer said today second-highest ranked executive Charles Wilson had resigned.

"Charles will leave Marks & Spencer on October 28 to join Booker Cash & Carry as chief executive," Marks & Spencer (M&S) said in a statement.

Mr Wilson, a longstanding lieutenant to chief executive Stuart Rose, was responsible for IT, logistics and property issues, and was one of only three executive directors at the company.

His departure will be a blow for Mr Rose, who is under pressure to revive M&S's fortunes after reporting a seventh consecutive quarter of falling sales last week.

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Late last year Mr Rose halved the number of executive directors at M&S, arguing smaller boards were more effective.

Weekend newspapers had reported Wilson was likely to leave M&S by the autumn even if he did not accept the offer from Booker's Icelandic owner, Baugur, because he was finding the culture of M&S stifling and felt he had delivered cost savings promised by Rose.

Mr Wilson worked at Booker between 1998 and 2000, alongside Mr Rose, newspapers said.