Marks & Spencer PLC (LON:MKS) has confirmed that its director of clothing and beauty, Jo Jenkins has resigned to join privately-owned clothing chain White Stuff as its chief executive, according to media reports.
Jenkins had been in the role for just six months, and only weeks after former Halfords PLC (LON:HFD) boss Jill McDonald took up the new position of Managing Director, Clothing, Home & Beauty at M&S on October 2.
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The FTSE 100-listed retailer’s CEO, Steve Rowe relinquished his Clothing, Home & Beauty accountabilities to Macdonald on her arrival, and its CFO Helen Weir, handed over responsibility for the Clothing, Home & Beauty Supply Chain & Logistics.
Breaking the news of Jenkins’ departure this morning, Sky News reported that she was said to have been disappointed to have been passed over for the role that was handed to McDonald.
A spokesman for M&S said the company was delighted for Jenkins, whose talent was reflected in the progress she had made both professionally and for the business, Reuters reported.
"Becoming CEO at a company like White Stuff is a natural next step for her," he said.
Christmas just around the corner
The move, just weeks ahead of the start of the key Christmas trading period for retailers, comes as the performance of Rowe – who took on the CEO job last year – comes under scrutiny from retail veteran, Archie Norman, who recently took over as the stores giant’s chairman.
M&S’s clothing business has been performing poorly recently, and Rowe has shifted a focus to more food-based operations, closing some underperforming stores and reallocating space in others. The retailer will report its first half results on November 8.
In mid-morning trading, M&S shares were 0.8% lower at 2.7p.