Marks & Spencer says executive director to leave

Britain's top clothing retailer Marks & Spencer said yesterday its second-highest ranked executive, Charles Wilson, had resigned.

"Charles will leave Marks & Spencer on October 28 to join Booker Cash & Carry as chief executive," Marks & Spencer (M&S) said in a statement.

Mr Wilson, a longstanding lieutenant to chief executive officer Stuart Rose, was responsible for IT, logistics and property issues, and was one of only three executive directors at the company.

His departure will be a blow for Mr Rose, who is under pressure to revive M&S's fortunes after reporting a seventh consecutive quarter of falling sales last week.

Late last year Mr Rose halved the number of executive directors at M&S, arguing smaller boards were more effective.

Weekend newspapers had reported Mr Wilson was likely to leave M&S by the autumn even if he did not accept the offer from Booker's Icelandic owner, Baugur, because he was finding the culture of M&S stifling and felt he had delivered cost savings promised by Mr Rose.

Mr Wilson worked at Booker between 1998 and 2000, alongside Rose, newspapers said.