Star signing beefs up M&S

Justin King hired by High Street stalwart as it faces make-or-break Christmas

Marks & spencer has hired former sainsbury’s boss Justin king ahead of what is set to be a make or break Christmas on the High street.

king, 57, ran sainsbury’s from 2004 to 2014 and is credited with breathing life back into Britain’s second largest supermarket.

His appointment as a non-executive director at M&s comes as the retailer battles to revive sales and profits, which have been dented by fierce competition from online rivals and discount supermarkets aldi and Lidl.

It will see king return to his old stomping ground of M&s 15 years after he left.

Before joining sainsbury’s he was head of the M&s food division where he helped pioneer the simply Food chain.

His appointment also marks another significant hire by M&s chairman archie Norman, 64, as he and chief executive steve rowe, 51, overhaul the High street stalwart.

king was managing director at asda in the 1990s, where he crossed paths with Norman.

singing king’s praises, Norman said: ‘Justin’s appointment completes a very significant re-orientation of the board in the last year. He will be a great addition to a strong team.’

rowe added: ‘I am delighted that Justin has agreed to join us. as we navigate the challenges ahead it will be enormously helpful to have his experience, wisdom and insight on the board.’

Clive Black, head of research at shore Capital, M&s’s house broker, said king was an ‘enormously experienced’ leader.

‘From our perspective we see this as another piece of the M&s management jigsaw being reconstructed to see through the necessary changes to make the business more robust and ultimately profitable in the future,’ he said.

‘Just as Mr rowe has led a material overhaul of the senior executive team, Mr Norman has undertaken an important role in positioning the board more appropriately for the future.’

In addition to king, rowe and Norman have hired 15 executives and board members over the past two years.

It is part of a dramatic transformation plan that has seen M&s shut stores and slash prices in a bid to cut costs and turn around falling sales.

Earlier this year Norman proclaimed that M&s had no ‘Godgiven right to exist’ and last month the retailer posted its worst food sales in a decade. Last night former M&s chief executive and Ocado chairman Lord rose said more retailers were likely to go bust in the New Year with Christmas set to be a tough sell for the High street.

‘I think this is a tough Christmas,’ rose said in an interview with ITV.

‘I’m going to put my money where my mouth is. I suspect there will be some uncomfortable trading statements in the early part of January.’

king will continue to serve as vice chairman of Guy Hands’ investment firm, Terra Firma. He stepped back from a full-time role at the business last week.

Despite king’s appointment, M&s shares fell 0.1pc, or 0.3p, to 275.5p yesterday.