M&S plunders Tesco aisles for clothes boss: Richard Price, who runs F&F brand, will switch firms in the new year
Richard Price will become managing director of clothing and home at M&S in the new year
Marks & Spencer has poached a Tesco executive to run its troubled clothing department.
Richard Price, who runs Tesco’s F&F brand, will take over as managing director of clothing and home at M&S in the new year.
He was previously M&S’s menswear trading director for four years until he left in 2012, before which he was the group’s head of merchandise.
The move comes after M&S chief executive Steve Rowe took direct control of the clothing and home division when former managing director, Jill McDonald, left in the summer.
He recently pledged to push rapidly ahead with a turnaround plan for the division, after another sales tumble in first-half results.
Rowe said Price’s appointment will help ramp up the division’s recovery.