** Shares of Marks and Spencer Group Plc MKS.L fall as much as 3.3% to 341.8p, stock among top pct losers on FTSE 100 .FTSE index
** The British retailer said on Thursday that Richard Price, the boss of its clothing division and a key player in the group's recent revival, is leaving, and would be succeeded by John Lyttle, the former boss of online fashion retailer Boohoo BOOH.L and budget clothing retailer Primark
** Lyttle will join M&S on March 3 and Price will leave on April 30
** Russ Mould, investment director at AJ Bell, says in a note that Lyttle might seem an "odd choice", given that Boohoo lost its way during his tenure
** Mould adds that Lyttle's previous role as COO at Primark means he has worked at two value retailers, suggesting his expertise is in low-cost retailing, which does not align with M&S' business model
** Stock gained ~38% in 2024
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))
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