Former Hermes chief comes onboard
Marks & Spencer has appointed former Hermes chief executive Tony Watson as chairman of its pension scheme.

He will take over from David Norgrove, who left to chair the Pensions Regulator.

David Eyre has been operating as interim chairman over the past few months.

M&S chairman Paul Myners said: 'Tony's appointment is consistent with the engagement I have been giving to increasing the professionalism of trustee work.'

Watson added: 'The Scheme has more than 130,000 members, for whom current and future payments are a key element of their financial planning.

'However, there is an absolute need to safeguard the well-being and exposure of the Scheme while also respecting shareholders' interests.'

Watson will take up the role on April 1.

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