Former Target boss joins Marks & Spencer
Former Target chief executive Stuart Machin has jumped ship from his role leading Steinhoff’s retail operations in the UK and has taken a new job as the managing director of Marks & Spencer’s ailing food business.
The retail executive, who moved to the UK after resigning from Wesfarmers over an accounting scandal in 2016, leaves Steinhoff after just eight months and will start his new role at M&S in April.
Machin (pictured) will report directly to M&S chief executive Steve Rowe in the newly created role of managing director of food, which will have overall profit and loss accountability for “all aspects” of the department store’s struggling food business.
Current director of food Andy Adcock, a company veteran of nine years, will leave the company at the end of April.
M&S said in a statement that the new job was designed to overhaul the business segment as the broader company accelerates its transformation plans.
Machin has extensive experience in food retail, having worked at Asda, Walmart, Tesco, J Sainsbury and Coles during his time at Wesfarmers.
“We face challenges in our food business and we have lots to do to change, fast. Stuart is an excellent addition to our team,” Rowe said of the appointment.
“[Machin] gets food retailing and he has first class experience of driving change in big food retailers.
“At Marks & Spencer we need to sharpen our prices, improve our products, drive profitability and grow market share – Stuart is the right leader to get on and deliver these changes,” he continued.
Machin said there’s “lots to deliver” in his new role under Rowe’s transformation plan.
“My heart lies in Food retail and I am excited to bring my passion for dynamic, customer-led Food retailing to M&S. The business has many reasons to be proud of its Food offer but there are also opportunities and lots to deliver under the transformation plan that Steve has laid out. I am looking forward to joining the team,” he said.
Machin will be working closely with M&S’ clothing and home managing director Jill McDonald and newly appointed food marketing director Sharry Cramond.
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