Greenbury to step down in May

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The Independent Online
SIR RICHARD GREENBURY (left) is expected to step down as chief executive of Marks & Spencer next May, ending long-running speculation about his combined role as chairman and chief executive.

The decision will be made following the completion of a strategic review of the group's structure which began this spring. Sir Richard, who was asked to stay until his 65th birthday in 2001, is likely to become executive chairman. The front-runner for chief executive is Peter Salsbury.