Marks & Spencer hires new clothing and home MD

Marks & Spencer said on Friday that it has appointed Richard Price, the current chief executive of F&F Clothing at Tesco, as its new managing director for clothing and home.

Price will join the retailer next year, with a start date to be confirmed in due course.

Chief executive officer Steve Rowe said: "Richard’s career spans some of the UK’s top clothing brands and he has a proven track record of delivering growth through stylish, great value product.

“We are building a team of world class talent in Clothing & Home and, with Richard coming on board, I am confident that the speed and scale of the transformation of the business will accelerate."

Price - who will replace Jill McDonald - worked at M&S between 2005 and 2012, when he left to join BHS.

At 1350 GMT, the shares were up 1.5% at 189.75p