M&S veteran closer to top job as he is moved to flagship division

London

STEVE Rowe's switch from running Marks & Spencer's food business to heading its general merchandise arm could make or break his chances of succeeding Marc Bolland as chief executive, arguably the most prestigious job in British retail.

Mr Rowe has led the upmarket food division for three years, delivering 23 straight quarters of underlying sales growth and an outperformance of the wider industry, helping M&S post a first rise in profit in four years in 2014-15.

However, his shift to general merchandise - the 131-year-old firm's flagship division, accounting for about two-thirds of profit - represents a significant step up. He faces the challenge of delivering the sustained rise in sales, along with profit margin gains, that will convince investors…