New M&S chairman goes shopping

published 24 November 2010

Robert Swannell, the former banker who will soon be the chairman of Marks & Spencer, has bought a big chunk of shares in the High Street retailer.

He took 20,000 shares at 372.8p a time, paying just less than 75,000, and now has 70,000.

Swannell's appointment at the helm of Marks & Spencer was announced in August. He joined the board on October 4 and will replace Sir Stuart Rose as chairman on 4 January.

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His purchase of shares comes at a time when Rose is decreasing his stake in preparation for his departure.

M&S earlier this month reported its figures for the half-year to 2 October.

Marc Bolland, the new chief executive, said that the near-term focus of the retailer will remain on the UK, with the aim of becoming its leading multi-channel retailer by 2013/14.

Sales were up 5.4% on a year ago at £4,569.7m. UK sales grew 5.6% year on year while international sales climbed 3.8%.

mTop Director Buys

Pittards (PTD) Director name: Mr Stephen BoydAmount purchased: 3,333,333 @ 2.25p Value: £75,000

Marks & Spencer Group (MKS) Director name: Mr Robert SwannellAmount purchased: 20,000 @ 372.80p Value: £74,560

BHP Billiton (BLT) Director name: Ms Carolyn HewsonAmount purchased: 1,500 @ 2,660.55p Value: £39,908

Barratt Developments (BDEV) Director name: Mr David ThomasAmount purchased: 26,781 @ 74.04p Value: £19,829

Barratt Developments (BDEV) Director name: Mr Robert (Bob) LawsonAmount purchased: 26,781 @ 74.04p Value: £19,829

Netplay TV (NPT) Director name: Mr Andrew Christopher LappingAmount purchased: 200,000 @ 7.00p Value: £14,000

Top Director Sells

Homeserve (HSV) Director name: Mr Richard HarpinAmount sold: 16,000,000 @ 415.00p Value: £66,400,000

European Goldfields Ltd. (EGU) Director name: Mr Mark RachovidesAmount sold: 357,261 @ 907.76p Value: £3,243,072

Majestic Wine (MJW) Director name: Mr Stephen LewisAmount sold: 46,000 @ 377.00p Value: £173,420

Majestic Wine (MJW) Director name: Mr Nigel AlldrittAmount sold: 31,500 @ 377.00p Value: £118,755

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