Steve Rowe (businessman)

Last updated

Steve Rowe
Born
Stephen Joseph Rowe

July 1967 (age 56)
NationalityBritish
Occupation(s)Former CEO, Marks & Spencer

Stephen Joseph Rowe (born July 1967) is a British businessman and former CEO of Marks & Spencer from April 2016 to 2022. [1]

Contents

Early life

Stephen Joseph Rowe was born in July 1967. [2] He is from Croydon. [3] His father, Joe Rowe also worked for M&S, where he was head of food, and a main board director. [3]

Career

Rowe has spent almost his entire career at Marks & Spencer, starting in Croydon working on Saturdays, aged 15. [3]

Aged 18, Rowe joined Topshop as a trainee, and soon became a store manager, but returned to M&S, "frustrated with the lack of career development at the company". [4]

On 7 January 2016 it was announced that Marc Bolland, who was CEO since 2010 would step down on 2 April 2016, and be replaced by Rowe, who was then head of clothing, and had previously been head of the food business. [5]

On 2 April 2016, he became the CEO of M&S. [6] In March 2022 it was announced that Rowe would step down as CEO being replaced by COO Stuart Machin. [7] Rowe officially left the company in July 2022 after 37 years. [1] [8] He was awarded a final £1.6 million pay package. [1]

Personal life

Rowe is a "diehard Millwall fan". [4] He lives in Purley. [9]

Related Research Articles

<span class="mw-page-title-main">Marks & Spencer</span> British multinational department store company

Marks and Spencer plc is a major British multinational retailer with headquarters in Paddington, London that specialises in selling clothing, beauty products, home products and food products. It is listed on the London Stock Exchange (LSE) and is a constituent of the FTSE 100 Index.

<span class="mw-page-title-main">Morrisons</span> British supermarket chain

Wm Morrison Supermarkets Limited, trading as Morrisons, is the fifth largest supermarket chain in the United Kingdom. As of 2021, the company had 497 supermarkets across England, Wales and Scotland, and one in Gibraltar. The company is headquartered in Bradford, England.

Justin Matthew King, CBE is an English businessman. King served as the CEO of J Sainsbury plc, parent company of the supermarket chain Sainsbury's, for ten years before stepping down in July 2014.

<span class="mw-page-title-main">Future plc</span> International multimedia company

Future plc is an international multimedia company established in the United Kingdom in 1985. The company has over 220 brands that span magazines, newsletters, websites, and events in fields such as video games, technology, films, music, photography, home, and knowledge. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

<span class="mw-page-title-main">Terry Leahy</span> English businessman (born 1956)

Sir Terence Patrick "Terry" Leahy is a British businessman, previously the CEO of Tesco, the largest British retailer and the third-largest retailer in the world measured by revenues. He is now a senior advisor at private equity company Clayton Dubilier & Rice.

<span class="mw-page-title-main">Ocado</span> British online supermarket

Ocado Group is a British business based in Hatfield, England, which licenses grocery technology. It also owns a 50% share in the UK retail business, Ocado.com. The company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

<span class="mw-page-title-main">PIMCO</span> US global investment management firm

PIMCO is an American investment management firm focusing on active fixed income management worldwide. PIMCO manages investments in many asset classes such as fixed income, equities, commodities, asset allocation, ETFs, hedge funds, and private equity. PIMCO is one of the largest investment managers, actively managing more than $2 trillion in assets for central banks, sovereign wealth funds, pension funds, corporations, foundations and endowments, and individual investors around the world. PIMCO’s headquarters are in Newport Beach, California; the firm has over 3,100 employees working in 22 offices throughout the Americas, Europe, and Asia. PIMCO and Allianz Global Investors manage around €2.5 trillion of third-party assets.

<span class="mw-page-title-main">Northern Foods</span> Food company based in Britain

Northern Foods is a British food manufacturer headquartered in Wakefield, England. It was formerly listed on the London Stock Exchange and was a constituent of the original FTSE 100 Index. The company is credited, together with Marks & Spencer, with creating the UK Chilled Food category. The driver of this growth was Christopher Haskins, the son-in-law of the company's founder Alec Horsley. Haskins became a director in 1967, deputy chairman in 1974, and was chairman from 1980 to 2002. The company was delisted in 2011 when it was bought by the 2 Sisters company.

Stuart Alan Ransom Rose, Baron Rose of Monewden, Kt is a British businessman and life peer, who was the executive chairman of Marks & Spencer until 2010, remaining as chairman until early 2011. He was knighted in 2008 for his services to the retail industry and created a Conservative life peer on 17 September 2014, taking the title Baron Rose of Monewden, of Monewden in the County of Suffolk.

<span class="mw-page-title-main">Marc Benioff</span> American businessman

Marc Russell Benioff is an American internet entrepreneur billionaire and philanthropist. Benioff is best known as the co-founder, chairman and CEO of the software company Salesforce, as well as being the owner of Time Magazine since 2018.

<span class="mw-page-title-main">Stephen Hester</span> British banker

Stephen A. M. Hester is an international businessman and former banker. He is Chairman of Nordea Bank and easyJet and former chief executive officer (CEO) of RSA Insurance Group, of RBS Group and of British Land.

Marc Bolland is a Dutch businessman, who was the CEO of Marks & Spencer, after having been CEO of UK supermarket company Morrisons.

Michael Andrew Coupe is a British businessman who was the CEO of J Sainsbury plc, parent company of the supermarket chain Sainsbury's, from July 2014 until the end of May 2020.

<span class="mw-page-title-main">Phil Spencer (business executive)</span> American business executive

Phil Spencer is an American business executive and the CEO of Microsoft Gaming. He is currently the head of the Xbox brand and leads the global creative and engineering teams responsible for gaming at Microsoft.

Stephen James Easterbrook is a British business executive. From March 2015 to November 2019, he was president and chief executive of McDonald's, the American fast food company.

Gillian Clare McDonald is a British businesswoman. She has previously been the CEO of Costa Coffee, CEO of Halfords, CEO of McDonald's UK and head of Marks & Spencer's non-food business, overseeing clothing, home and beauty.

Simon John Roberts is a British businessman, and the chief executive officer (CEO) of Sainsbury's since 1 June 2020, having previously been retail operations director. He is a former managing director of Boots UK.

Stuart Machin is a British business executive and the chief executive (CEO) of Marks & Spencer. He became CEO on 25 May 2022 when Steve Rowe stepped down. Machin is responsible for day-to-day leadership, with Katie Bickerstaffe as co-CEO in charge of online operations and data. Reuters called this an "unconventional leadership structure".

Katie Bickerstaffe is the co-CEO of Marks & Spencer, working alongside the CEO Stuart Machin.

References

  1. 1 2 3 Hotten, Russell. "Shareholder revolt at £1.6m bonus awarded to M&S chief Steve Rowe". ISSN   0140-0460 . Retrieved 6 July 2022.
  2. "Stephen Joseph ROWE - Personal Appointments (free information from Companies House)". Beta.companieshouse.gov.uk. Retrieved 4 April 2016.
  3. 1 2 3 "Steve Rowe: Everything you need to know about the man replacing Marc Bolland at Marks & Spencer". City A.M. 7 January 2016. Retrieved 4 April 2016.
  4. 1 2 Chris Green (7 January 2016). "Marks & Spencer names Steve Rowe as new chief executive | Business News | News" . The Independent . Archived from the original on 25 May 2022. Retrieved 4 April 2016.
  5. Butler, Sarah; Kollewe, Julia (7 January 2016). "M&S boss Marc Bolland to step down". The Guardian . Retrieved 7 January 2016.
  6. Zoe Wood (1 January 1970). "New M&S boss Steve Rowe faces baptism of fire as sales fall | Business". The Guardian . Retrieved 4 April 2016.
  7. "M&S boss Steve Rowe to step down after close to 40 years with retailer". the Guardian. 10 March 2022. Retrieved 3 April 2022.
  8. "M&S Investors Revolt Over Pay for Outgoing CEO Steve Rowe". Bloomberg.com. 5 July 2022. Retrieved 6 July 2022.
  9. Daniel O'Mahony (7 January 2016). "Croydon businessman Steve Rowe appointed Marks and Spencer chief executive after joining company as 15-year-old Saturday boy (From Croydon Guardian)". Croydonguardian.co.uk. Retrieved 4 April 2016.
Business positions
Preceded by CEO of Marks & Spencer
20162023
Succeeded by
Incumbent