Marks & Spencer loses two top execs

Marks and Spencer has said that two of its most experienced directors would leave the business this summer. Both Darrell Stein and Clem Constantine, directors of IT and property respectively, have been with M&S since 2006, according to the company's website.

M&S confirmed the executives impending departure from the group and a company spokesperson told the Financial Times: "Their roles have significantly changed recently; Darrell developed our new e-commerce platform which has now been delivered and, as announced at our interims, we will be putting on less general merchandise space which changes our property focus."

"Both Darrell and Clem have done a great job and we wish them well going forward. We have a very strong talent pool at M&S that is being recognised internally and externally."