By  on August 23, 2010

LONDON — Marks & Spencer plc has appointed Robert Swannell as its new chairman.

Swannell, 59, will join M&S’s board as a non-executive director Oct. 4 and then will take up his position as chairman on Jan. 4, 2011. M&S’s current chairman, Sir Stuart Rose, will continue in his role until Jan. 4 and then will step down from the board and leave M&S.

Swannell’s background is in investment banking. He spent 30 years with Schroders and Citigroup and served as vice chairman of Citi Europe and as co-chairman of Citi’s European investment bank.

Currently, he serves as chairman of HMV Group plc and is a senior independent director of The British Land Company plc and a senior independent non-executive director of 3i Group plc, the private equity firm. A spokesman for HMV Group declined to comment on whether Swannell would continue in his role after he takes up the chairman role at M&S.

“It is a privilege to be asked to chair one of the world’s greatest brands,” Swannell stated.

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