David Prosser: Who's next at M&S
Friday 19 March 2010
Outlook So farewell then, Sir Stuart Rose – or at least it will be when Marks & Spencer's executive (soon to be non-executive) chairman finally bows out of the company next March. Who, though, is the right man, or woman, to succeed Sir Stuart?
Here's one candidate that the executive headhunters JCA, asked to conduct the search, might like to consider: the City minister Lord Myners, who will be out of a job in six weeks' time, assuming Labour is unable to cling on to government in the election.
A move out of the partisan hothouse – whether by choice or not – might be welcome for Lord Myners, who hasn't always had the best instincts politically. He managed to ride out accusations he went too soft on Sir Fred Goodwin when Royal Bank of Scotland collapsed, but the comments he made yesterday – calling for every bank to appoint a "dour Scot" to its audit committee – suggests he has forgotten the episode. After all, RBS was run by two dour Scots.
However, there is certainly no questioning Lord Myners' experience: he has already done an acclaimed stint in the chairman's office at M&S, helping Sir Stuart fight off the unwanted takeover approach of Sir Philip Green. Maybe it is time for a reunion.
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