Asda boss rules out Marks & Spencer top job
Andy Bond, the Asda chief executive, has ruled himself out of the running to succeed Sir Stuart Rose at Marks & Spencer (M&S).
Mr Bond had been seen as the leading external candidate, but he said today: “I’m not interested”, adding “I’m not going to M&S – end of story.”
Mr Bond’s forthright statement is in stark contrast to earlier public comments on the M&S job.
In March, he said in an interview: "if you look at the scale of M&S and what a brilliant brand it is, it will always be a very short list to replace Sir Stuart Rose…you can see why people think there are just two people on the list — [J Sainsbury chief executive] Justin King and Andy Bond”.
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Mr Bond’s unequivocal comments will be a blow to JCA, the headhunter which is trying to find a new M&S chief executive to be appointed next year. Mr King has already said that he is committed to Sainsbury’s for the foreseeable future.
Sir Stuart plans to step down as executive chairman next year after the appointment of a chief executive. The company has stated that its first preference is for an internal candidate, but will turn outside the company if it can not find a suitable candidate.
Yestersday, M&S reported like-for-like sales down 0.5 per cent, ahead of analysts' forecasts who were expecting a 1.5 per cent decline for the 13 weeks to September 30.
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