Bolland Flies In To British Airways Owner IAG

The former boss of Marks & Spencer (Other OTC: MAKSF - news) has wasted little time securing a plum role at another FTSE-100 company, landing a boardroom post at the owner of British Airways.

Sky News has learnt that Marc Bolland, who left the high street chain last month , is expected to be named as a non-executive director of International Airlines Group (IAG) later this month.

Already a board member of The Coca-Cola Company (Xetra: 850663 - news) , Mr Bolland will be taking on a role which will place him in the frame as a potential long-term successor to IAG’s chairman, Antonio Vazquez.

An announcement about his appointment could be made as soon as this Friday, when IAG reports first-quarter results, according to headhunting industry sources.

It (Other OTC: ITGL - news) will be the former M&S chief’s first appointment at a London-listed company since he announced his departure from the high street bellwether in January.

Spencer Stuart, the executive search firm, is understood to have identified Mr Bolland as a candidate for the board vacancy at IAG.

He will join well-known corporate names on the airline group’s board, including Baroness Kingsmill, the former deputy chair of the Competition Commission, and Patrick Cescau, chairman of InterContinental Hotels Group.

Mr Bolland, a former Heineken (LSE: 0O26.L - news) executive, won plaudits for overhauling the image of Wm Morrison, the supermarket chain he ran before being poached by M&S in 2009.

He made some progress with the transformation of M&S’s inefficient supply chain, but fared less well turning around its poor performance in clothing, presiding over more than three years of declining like-for-like womenswear sales.

IAG is enjoying a different trajectory, with Willie Walsh, the owner of BA, Iberia and Aer Lingus, trumpeting soaring operating profits and the first dividend since the enlarged company was formed in 2011.

It has been aided by the reduction in its fuel bill following the slump in oil prices, as well as Mr Walsh’s success at cutting costs.

Mr Bolland is still being paid by M&S for a year and is available for consulting work with the company for the first three months after his exit.

IAG declined to comment on Monday, while Mr Bolland could not be reached for comment.