Blog: M&S's next boss - a new favourite?
Dean Best | 9 September 2009
Marks and Spencer today (9 September) appointed director of food John Dixon to its board, fuelling further speculation that he may be favourite for the role of CEO when Sir Stuart Rose steps down in 2011.
Commentators have tipped Dixon as one of the most likely to succeed Rose, although he faces competition from the likes of finance director Ian Dyson, head of clothing Kate Bostock, and external candidates such as Sainsbury's Justin King/
Rose has been under fire from some investors since 2008 for holding the position of both CEO and chairman, the argument being, that too much power is concentrated in the M&S boss’ hands.
In July, a large minority of M&S shareholders - around 37% - backed an advisory motion at the company’s AGM calling for the chain to appoint a new independent chairman a year earlier than planned, splitting the job that Rose currently carries out.
Paddy Power currently has Dixon placed at 4/1 to take the helm, while King is edging ahead at 3/1 at the time of going to press. David Beckham is 500/1.
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