Marks and Spencer hires Tesco man as MD for clothing and home

Marks and Spencer has appointed Richard Price, currently chief executive of F&F Clothing at Tesco, as MD of its clothing and home division.

Chief executive Steve Rowe said: “We are building a team of world class talent in Clothing & Home and, with Richard coming on board, I am confident that the speed and scale of the transformation of the business will accelerate.”

Price will join M&S next year and a start date will be confirmed in due course.

Earlier this month, Marks and Spencer blamed supply chain issues for a 5.5 per cent fall in clothing and home sales during the first half of its financial year.

Rowe has been leading the division since July following the departure of Jill McDonald after two years as managing director.

Price was previously at M&S between 2008 and 2012, when he was head of merchandise and menswear trading director. He said: “I left the business because I felt it was drifting in the wrong direction but now feel we have a real chance to make it special again.”

By Michelle Mooney