Our thanks to Kevin for this. Excerpts:
“I’ve been away from the business for a year now, and that time has seen some significant changes in both my personal life and in the business. I concluded that the time was right to move on from M&S”, said Ms Wade-Gery…
M&S confirmed that provided Ms Wade-Gery does not get another full-time role she will receive eight months worth of salary and benefits, equivalent to £540,000…
Ms Wade-Gery’s departure will bring fresh questions about the lack of senior women in the retail sector, which is dominated by women.
The M&S executive had been a strong advocate of greater female leadership in retail “It isn’t right that out of executives I think only 7pc of the FTSE 100 directors are women… That is not representative of the customer base of those companies”, she told The Telegraph in 2015.
In 2015 the FTSE100 reached the target of 25pc (not 7pc) female directors on their boards, in response to a threat contained in the infamous Davies Report (2011) that if they failed to do so ‘voluntarily’, the government should consider introducing gender quota legislation. 96pc of the women appointed to those boards over 2011-15 were appointed as non-executive directors. The government’s current target is gender parity on FTSE350 boards.
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