Going Down: Marks & Spencer
Sunday 17 January 1999
The company's difficulties have multiplied in recent months. Its shares, once a byword for steady growth, have sunk 44 per cent in the last 12 months. A management battle has resulted in the appointment of a new chief executive, Peter Salsbury, who takes over next month. The company is also eliminating two senior executive positions and will create three units to oversee British retailing, overseas retailing and financial services.
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