Yet another high-profile manager has walked out on Marks & Spencer. Lingerie and Beauty chief Janie Shaffer’s departure comes after the firm announced a seventh consecutive fall in quarterly sales of general merchandise – the area that includes clothing – and follows the previous loss of Clothing director Andrew Skinner in March 2012 and General Merchandise boss Kate Bostock, who moved to rival firm ASOS in July.
Chief executive Marc Bolland has presided over all these departures and more – including those of four senior directors. But this is perhaps the most worrying of them all for shareholders, with Shaffer having only been in the role for three months: not nearly long enough to make any sort of impression on strategy or sales. M&S confirmed her exit, but did not say whether she would be replaced, which suggests a deep-seated crisis over the chain’s management strategy and a lack of involvement on Bolland’s part.
This latest episode should act as a warning for ambitious managers and leaders looking to join new companies. While Bolland clearly wanted some sort of clearout and a fresh start, the high turnover indicates that he is not fully in control of the company, and is clashing with a number of senior figures – not a buoyant environment to walk into.
With the economic fortunes of M&S clothing on the slide, the Lingerie and Beauty post was always going to be a tough gig for whoever took it. That her predecessor also left to join a rival was another sign that all was not well with the firm. Of course, ambitious people will always believe that they will be the person to ride heroically into town to save the day. But they would be well advised to look, listen and think before accepting roles at companies that are experiencing severe turbulence.
Image of M&S lingerie designer and model Rosie Huntington-Whiteley courtesy of Featureflash / Shutterstock.com