Norman is M&S chair

A TURNAROUND king and former Tory MP has been appointed as the chairman of Marks & Spencer.

Archie Norman, credited with saving Asda from bankruptcy, will take over from Robert Swannell, who retires on September 1.

Norman, 63, has also been chairman of ITV and fund manager Lazard London.

He marks the latest change to the top team at the retailer, where struggling clothes sales have dented profits.

This week M&S poached Halfords boss Jill McDonald, 52, to run its struggling clothing business. Chief executive Steve Rowe, 49, took over last year. Cambridge graduate Norman joined thenstruggling retailer Asda in 1991 and sold it eight years later to WalMart for £6.7bn.

He was chief executive of the Tory party and MP for Tunbridge Wells for eight years, stepping down in 2005.

In November Marks and Spencer announced a wide-ranging restructure amid falling profits.

Rowe announced that he would shut 53 stores across ten international markets.

Clive Black, retail analyst at Shore Capital, said: ‘Mr Norman is a formidable appointment.’