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Marks & Spencer CEO to step down as CEO in 2010

Sat. July 04, 2009; Posted: 09:32 AM
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Jul 04, 2009 (Datamonitor via COMTEX) -- MASPY | Quote | Chart | News | PowerRating -- Stating that he will continue as the chairman of Marks & Spencer for some more time and until a successor CEO is chosen, Stuart Rose has said that he will step down from his position as CEO in 2010, revealed the Financial Times.

According to the news source, Mr Rose may be replaced by John Dixon, director of food for the company. The paper reported that the retailer had been facing the heat from some investors ever since Mr Rose was allowed to assume both the chairman and CEO positions.

While David Michels, deputy chairman and senior independent director, has evinced interest that he would like to assume the position of chairman, Mr Rose is not supportive of the move, the newspaper said.

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