Archie Norman has been M&S chairman since 2017. The board of M&S has decided to extend his tenure as chairman for three years from September 2026, subject to annual reviews.
The board is unanimous in its conviction that his continuation as chairman is in the best interests of the company and there is widespread support for this view across the shareholder base.
The extension follows consultation with shareholders, executives, and the committee of non-executive directors. Norman is set to reach the maximum nine years as chair under the UK corporate governance code in September next year.
Author's summary: Archie Norman's tenure as M&S chairman extended for three years.