Marks & Spencer (LON:MKS) have announced the appointment of Archie Norman as its new chairman.
The former Asda boss and Conservative MP will replace Robert Swannell, who has been at the helm of the supermarket since 2010.
In January of 2016, Mr Norman announced his British broadcasting service ITV (LON:ITV), after more than six years as Chief Executive.
He is set to join current chief executive Steve Rowe to help with rejuvenating the Marks & Spencer brand, in particular looking to remedy falling clothing sales.
Mr Norman said: “I am looking forward to taking on the role of the chairmanship of Marks & Spencer as the business under Steve Rowe’s leadership faces into the considerable challenges ahead in a rapidly changing retail landscape.”
In a statement, out-coming Chairman Mr Swannell said: “I am delighted that Archie, with his deep, relevant experience is to be M&S’s next chairman
“It has been a real privilege to have served as chairman and to have worked with so many exceptional people who are so passionate about this great business.
“With the appointment of Steve Rowe in 2016, I am confident that we have an excellent team, well-equipped to grow and strengthen the business. I wish them all the very best for the future.”
This follows this week’s announcement that the company had hired former Halfords and Mcdonalds boss, Jill Mcdonald, to takeover the running of its struggling clothing divisions as it looks to stamp out fierce competition from the rest of the high-street.
In addition, Marks & Spencer have also announced their intention to explore expanding into food delivery services. The service is set to be launched in Autumn of this year as a rival to current supermarket delivery services operated by Ocado, Tesco (LON:TSCO) and Sainsbury’s (LON:SBRY).
Shares in Marks & Spencer are currently up 5.12 percent as of 9.54AM (GMT).