M&S Pension Trust - New Chair

RNS Number : 0104V

Marks & Spencer Group PLC

26 October 2010

 



Issued: Tuesday 26 October 2010

MARKS & SPENCER PENSION TRUST APPOINTS NEW CHAIRMAN

Marks and Spencer Group plc (M&S) today announces the appointment of Graham Oakley as Chairman-designate to the M&S Pension Board of Trust ("Trustee Board"). Graham will take up his new role on 1 April 2011. Tony Watson will continue as Chairman until that date, in order to ensure a smooth transition, and will then retire from the Board.

Sir Stuart Rose, M&S Chairman, said: "I am delighted that Graham has accepted to take over from Tony. He will be an excellent Chairman and his considerable experience of the Trustee Board and the complex issues relating to investment, funding and legislation will be a real asset. I am delighted that he has been appointed as Chairman by our Trustees.

"I would also like to thank Tony for his commitment to the Trustee Board over the last five years. Tony has seen the Board through two complex valuations at a time when pensions have seen ever greater challenges and increased regulation. We are grateful for his significant contribution over this period and wish him well for the future."

Tony Watson said: "I am very pleased that Graham has agreed to succeed me as Chairman of the Trust after the conclusion of my five year term. It has been a challenging role and I have enjoyed working with the team."

Graham Oakley said: "Having served as a Trustee for several years, it is a privilege to be asked to chair the Trustee Board. I look forward to continuing to work with the team."

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For further information, please contact:

Corporate Press Office:       020 8718 1919

 

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