M&S chief ‘to take part-time role’

Luc Vandevelde, who has led the dramatic turnaround at retailer Marks & Spencer, is expected to announce this week he will switch to a part-time role.

The 51-year-old Belgian chairman and chief executive is reported to be set to make public the plans, which will see him stand down to become part-time chairman, at M&S’s annual meeting on Wednesday in London’s Royal Festival Hall.