LONDON (Brand Republic) 鈥 Marks & Spencer chairman Luc Vandevelde has recruited executives from BSkyB and technology company Misys to add fresh thinking to the ailing retailer鈥檚 board.
Vandevelde said Kevin Lomax, a founding investor in and executive chairman of Misys, and Tony Ball, chief executive of BSkyB, would bring 鈥渆xperience and talent鈥 to the non-executive director鈥檚 table.
鈥淥ur aim has been to increase the breadth of experience, talent and age on the board. Their success in their respective, fast-developing industries will be particularly relevant to our future progress,鈥 he said.
Lomax and Ball join Brian Baldrock, Dame Stella Rimington, Sir Michael Perry, Sir Ralph Robins and Sir David Sieff on the non-executive board.
The news came as M&S shares slipped to a new 11-year low of 217p. Analysts say shares will fall lower to 200p.