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Marks & Spencer's offer embattled CEO more time to turn around revenues

RBR Staff Writer Published 11 January 2013

Embattled executive of British Retailer Marks & Spencers, Marc Bolland is likely to survive the axe despite fledging sales and the leak of its financial report for the holiday season.

Embattled executive of British Retailer Marks & Spencer's, Marc Bolland is likely to survive the axe despite fledging sales and the leak of its financial report for the holiday season.

Marks & Spencer's board is likely to repose faith with Bolland and offer him time to turn around the fortunes of the company that has had a tough Christmas trading season.

One of the shareholders was quoted by Financial Times saying, "We are giving him the benefit of the doubt for now. We will be looking very closely at how the autumn winter ranges trade."

Commenting on the future plans Marks & Spencer CEO Marc Bolland remarked that he is confident of the strategy and added that he would remain in charge until next year.

The present economic scenario in Europe remains grim and presents Bolland with an unenviable task.