Marks & Spencer Group PLC on Thursday said Co-Chief Executive Officer Katie Bickerstaffe will leave the company after the annual general meeting in July.

The announcement by the London-based retailer on Thursday morning confirmed a report by Sky News on Wednesday evening. Bickerstaffe will pursue a portfolio career that will include a non-executive role on the board of Kingfisher PLC, Sky said.

Bickerstaffe isn’t currently on the board of Kingfisher, and the DIY retailer made no announcement on Thursday morning. Bickerstaffe had joined M&S as a non-executive director in 2018 before moving into executive positions in 2020.

Bickerstaffe and Stuart Machin were co-CEOs of M&S until Machin was made CEO in May 2022. Bickerstaffe remained co-CEO but reported to Machin.

‘Having helped see through that leadership change, the strengthening of the management team and a marked improvement in the performance of the business, she will move on to take other board roles in line with the original transition plan,’ M&S said on Thursday.

Bickerstaffe has led the data, digital and technology aspects of M&S’s business since 2022. Rachel Higham will be joining M&S from advertising firm WPP PLC to take over that responsibility.

M&S shares were down 0.9% to 238.60 pence early Thursday in London.

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