Marks & Spencer Group Plc has offered the key role at the helm of its struggling clothing business to former Next Plc product director Christos Angelides, according to a person with knowledge of the matter.
Angelides, who most recently led the Abercrombie & Fitch brand, is M&S’s preferred candidate for the job, said the person, who declined to be identified as the matter is private.
Angelides and a Marks & Spencer spokeswoman both declined to comment.
When Steve Rowe was promoted from M&S’s head of clothing to become its chief executive officer in April he made it clear that arresting a five-year sales slump at the London-based retailer’s clothing division was his top priority. One of his first decisions was that he would personally remain in charge of the clothing business for the foreseeable future.
In his capacity as Next’s group product director, Angelides was a thorn in the side of M&S for 16 years. He played a crucial role in luring customers away from the U.K.’s largest clothing retailer, which saw its market share dwindle.
In 2014, Angelides left Next to become president of the Abercrombie & Fitch brand, where he didn’t enjoy the same success. The 53-year-old was fired in December 2015 amid weak sales at the U.S. retailer, receiving a severance payment totaling $5.5 million, according to a company filing. Should he agree terms with M&S, Angelides would be able to step in to the role quickly.
Sky News reported on Sunday that Angelides was being considered by M&S for the job.
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