Clayton, Dubilier & Rice Partner Joins Marks & Spencer Board
08 Juli 2011 - 6:19PM
Dow Jones News
U.K. retailer Marks & Spencer Group PLC (MKS.LN) Friday said
it has appointed Manvinder Banga, an operating partner at private
equity firm Clayton, Dubilier & Rice, as a non-executive
director to its board.
Banga joined Clayton, Dubilier & Rice from Unilever PLC
(ULVR.LN), where he was the former president of the global foods,
home and personal care businesses and a member of the Unilever
executive board.
Clayton, Dubilier & Rice is known for its operational
expertise and has taken on a number of industry leaders as partners
to supervise the transformation of portfolio companies.
"Vindi brings a wealth of experience of global business and
extensive consumer and brand knowledge," said Robert Swannell,
chairman of Marks & Spencer.
"His insights will further support the board discussion on our
strategy, set out by Marc Bolland in November 2010, to become an
international multi-channel retailer," he added.
-By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241;
marietta.cauchi@dowjones.com
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