Speculation has increased that Marks and Spencer is close to appointing a successor to interim chairman, Paul Myners.

The retailer is believed to have come up with a shortlist, which includes for Asda chairman Archie Norman and Lord Hollick, former head of United Business Media.

However it has yet to fill the position of director of food. Acting director of food Guy Farrant has been in the role since June last year and is still thought to be one of the frontrunners for the job.